The Lloydminster Area Brain Injury Society is the latest non-profit that will be enjoying the property tax exemption status granted by the city of Lloydminster. This as Council on Monday gave approval for the group to get this relief.
Mayor Gerald Aalbers shared his comments on the development which is in accordance with the Non-Profit Organization Property Tax Exemptions Policy.
“In this case, LABIS came forward with an application, and that is allowed to happen. So they will get two years tax exemption before it’s brought back again to be qualified in 2023 with the other 43 non-profit organizations that currently have tax exemption status from the city.”
The current policy was approved in 2018 and with LABIS joining the group of 43, that approval will last until the end of the 2023 tax year when all non-profits will have to apply again for the exemptions. Administration asked Council to approve the exemption in alignment with the previous two-year approvals which were given last year.
The Administration in its review determined that the area leased is 1,500 out of 4,800 square feet and meets the requirements of the policy.
Aalbers is reminding non-profits of the format to submit applications for property tax exemptions.
“There is a process and I encourage non-profits to look at that process if they haven’t. Basically, it would be in effect for the next year now to get their form in place. But once they are on to that list, the city will be in contact with them to ensure that they are still eligible, because we ensure that if their status changes; the organization doesn’t exist anymore, that [property tax exemption] wouldn’t continue on.”