Residents of the Border City should keep an eye on their mailbox.
In the coming days, property tax assessments for Lloydminster will be arriving across the community. According to Lisa Buchan, the Director of Business Services for the City of Lloydminster, notices will be delivered starting on February 20. Council also voted on Monday to appoint Kyle Sattler and Michele Winsor to the role of Assessment Review Board clerks.
Buchan also indicated the municipal mill rate will determine the final level of property taxes for residents.
“As approved in the budget, focused on the revenue that’s generated from the taxes, we are anticipating about a four per cent increase in revenue,” said Buchan.
“When the assessments go, you will have that as your factor, and the mill rate will be set later on in the spring. In combination, that should produce the four per cent increase in revenue we were looking for.”
Buchan also indicated that she was anticipating an average decrease in property value across the city.
With the appointment finished, the next step in property taxes will be the setting of the mill rate. Taxes have already been set to rise four per cent.