St. John’s Property Assessment and Property Tax Information

April 6, 2010 · Filed Under First Time Buyers, St. John's Investments, St. John's Real Estate and St. John's Relocation · Comments Off 

The St. John’s Property assessment is the estimated value of a property (land and building) utilized for municipal taxation purposes.  The “Assessment Act 2006” is the Legislative authority governing assessment and taxation in the City. The assessment value can at times be similar to fair market value, however with the fast changing St. John’s Real Estate market the two values can be greatly different in figures.

“Your 2013 property assessment is based on the City of St. John’s estimate of the actual value of your property on January 1, 2011.”

From the City of St. John’s website  “the City’s assessments are calculated on the basis of a property’s market value as of a specific point in time, referred to as the “base date”. The presently applicable “base date” on which your assessment is calculated is January 1st, 2008. In other words, the market value of your property on that date is presently utilized to calculate your municipal taxes for 2013.”

To find out the assessment value of a home in St. John’s visit the Property Assessment Search

UPDATED FOR 2013 St. John’s Property Taxes

Annual residential property taxes for St. John’s are calculated at a rate of 8.1 mils, or 0.81% of a property’s total assessment (for the year 2013).  A property with a total assessed value of $100,000. would be charged an annual property tax of $810.00, calculated as follows:

Assessed Value of St. John’s Home = $215,000.
Multiplied by the Mil Rate = .0081 (8.1 Mils)
Annual Property Tax for 2013 = $1741.50

Don’t forget to include your water taxes. Water taxes for St. John’s are a flat rate of $615 (2013). (multiplied by 2 if you have a 2-apt home)

So a $215,000 property would have a total property tax of $2356.50 for the year or $196 per month.