ASR Response to Saskatchewan Budget

Association of Saskatchewan REALTORS®
NEWS RELEASE
Provincial Budget
March 23, 2011
 
Saskatchewan’s REALTORS® praised the Wall government’s new budget for keeping promises made, but cautioned that more innovation is needed as the province grows.
 
“The 65% provincial share of school costs is very positive – a mirror-image reversal from four years ago. But as school property tax goes down, municipal property taxes are back-filling the cuts.
 
“People need lower taxes overall, not just a different government to pay them to.”
 
Mr. Madder said sharing a full point of the PST is a major improvement over the old system of arbitrary handouts, but only half a solution.
 
“Saskatchewan still needs a comprehensive revenue sharing program. Property tax can no longer be the mainstay of municipal finance. It should be limited to paying part of infrastructure costs. It should be based on the value of services, not on property value.  
 
REALTORS® say the $5,000 rental unit subsidy and increased rental supplement allowances are good in principle despite being modest in funding.
 
“Saskatchewan needs a full make-over in housing policy. We need large-scale stimulus for rental supply. We need bold measures to draw private investment into apartments and suites. REALTORS® look forward to the new housing strategy scheduled for June.
 
Mr. Madder noted that limiting property taxes would do much to keep housing affordable. And, and end to taxing the value of property would encourage upgrading.
 
REALTORS®  strongly endorsed the balanced budget, the $325 million pay-down of public debt, the change made in the 3-tier commercial mill rate, and halving the business tax rate.

Affordable Housing

The issue of affordable housing and rent controls appear to be moving up on the list of issues for debate leading up to the Provincial Election. An Op-Ed article from our Association appeared in the Regina Leader Post and the Saskatoon Star Phoenix today. Here are the links to both (content is the same - just different headlines):
Star Phoenix - ASR Affordable Housing article
Leader Post - ASR Affordable Housing Article

The ASR has also prepared a paper on the issue of Affordable Housing which was presented to government earlier this year. The paper outlines areas which federal, provincial, and municipal governments need to take action on to address the issue. Here is a link to the paper:  ASR Affordable Housing Paper

As always, your comments are welcome on this very important issue.

February Stats - Regina and Saskatoon

The February MLS® System statistics for Regina and Saskatoon were released this week.

The media release from the Saskatoon Region Association of REALTORS® is here:

Saskatoon - February Stats Release

And the release from the Association of Regina REALTORS® is here:

Regina - February Stats Release

Does anyone have any comments on the market or predictions on what they think will happen in the balance of the year? We welcome your comments.