Council lowers property taxes to 2.47%

Homeowners are getting some relief from the City of Lloydminster on their property taxes.

Council documents from May 20 show that the 4.5 per cent increase to the municipal mill
rate, which was put forward last November has been lowered to 2.47 per cent.

“A lower municipal mill rate should provide some reprieve to homeowners who have seen their assessed property values grow due to inflation,” states the council documents.

The breakdown shows:

The revised 2025 levy will provide $49,962,809 in tax dollars to support expenditures of $216,625,387 and revenue at $216,684,699.

See below:

The revised tax levy and budget was passed at the regular Council meeting on May 20.