Residential property owners will see about a $5.40 per month increase on a property valued at $285,000, and non-residential properties will see an approximate increase of $56 per month on a property valued at $750,000, as Lloydminster city council has approved the new mill rate which will be sent out from June 7. The last payment date before penalties is Thursday, July 25.
Administration noted that with an increase in provincial industrial assessment values and the legislated property tax appeals process, it has lowered the residential mill rate increase to 2.22 per cent and non-residential to 5.39 per cent.
Also, Lloydminster has the fifth lowest residential mill rate and sits middle of the pack for non-residential when compared to the 12 Alberta municipalities which Lloydminster is benchmarked against.
The rates are highlighted below:
- City Hall (cash, debit or cheque)
- A financial institution
- Online banking
The total taxable assessment for the 2024 tax year is $4.82 billion (as of May 21, 2024), up from $4.65 billion the previous year.
