Council facing two more readings of property tax hike

The first reading of the proposed property tax increase is in the books. Lloydminster City councillors will face two more readings of the mill rate bylaw which has a roughly $5.40 per month increase on a residential property valued at $285,000.

Also, the proposal calls for an approximate $56.00 per month increase on non-residential properties valued at $750,000.

The total taxable assessment for the 2024 tax year is $4.82 billion (as of May 2, 2024), up from $4.65 billion the previous year. In 2024, with the assessment and proposed mill rate changes, the tax levy will collect an estimated $46,207,840.

The second and final bylaw readings are scheduled for Monday, May 27.

The proposed changes are detailed below.

In explaining the education levy, the city indicates the Alberta and Saskatchewan governments require the City of Lloydminster to levy education property taxes on their behalf based on Lloydminster’s assessment values. The money received is then provided to the Lloydminster Catholic and Public School divisions.