Lloydminster residents will see an increase on their annual residential property tax bill in 2022.
This after members of council approved the first reading of the taxable assessment bylaw, which will see a 1.93 per cent overall increase.
Mayor Gerald Aalbers says in addition to the increase, the rest of the tax bill could also see a slight uptick, but that’s dependent on the property assessment.
“So if you have added on to your home; you completed the basement and the value of your home has gone up from the assessment perspective, you will see a slight increase in taxes,” he adds.
With Council’s revised Operating budget having revenues of $74,054,925 and total expenditure being $112,725,746 excluding amortization of $21,672,600, the resulting taxation levy is $38,746,085.
Aalbers adds that the City is facing a 42% reduction in bi-provincial government grants and this affects both operating and capital budgets. Saskatchewan has reduced its contribution through PST by $95,000 which Aalbers says equates to a half-a-percent tax increase to Lloydminster to make up the shortfall.
Then he says there’s the RCMP salary increase which took effect on April 1st and as well backpay.
“That’s still an outstanding issue with ourselves and the federal government. Again our associations, as a municipality we have been lobbying to have a discussion with the federal government about them covering that. There’s been no commitment.”
Council has also approved the 2022 capital budget with balanced revenue and expenditure of $97,830,372.
The mill rate bylaw will return to council for second and third readings on May 30th. Property tax notices will be mailed on June 10th.
Full details on the changes can be found on the City’s website.