03/13/2013 01:26 EDT | Updated 05/13/2013 05:12 EDT

Saskatchewan looks to ease tax impact of huge increase in property values

SASKATOON - The Saskatchewan government says it will hold the line on education property tax this year even in the face of increased land values.

The government said in January that overall property value in the province has increased by 67 per cent over the last four years.

That's good news for property owners, but it also could have meant significant property tax increases.

Some property owners will still see their taxes go up because their assessment increased more than the average, but the education portion of the tax won't be a factor.

Both municipalities and the provincial government set property tax rates — the province sets the education portion to pay for kindergarten to Grade 12.

Premier Brad Wall cautions that the government may have to look at adjusting the education levy in the years ahead because of a growing population and increasing school enrolment.