Council passes 2024 mill rate, property tax notices to go out June 7

Lloydminster, AB/SK – City Council passed the 2024 Mill Rate Bylaw during the May 27 council meeting, with a property tax increase coming in slightly lower than anticipated.

Residential property owners will see an approximate $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

Although the approximate monthly increase remained essentially unchanged since the bylaw was presented for the first reading on May 13, Administration lowered the residential mill rate increase to 2.22 per cent and non-residential to 5.39 per cent following an increase in provincial industrial assessment values and the legislated property tax appeals process.

Of the 12 Alberta municipalities Lloydminster is benchmarked against, the Border City has the fifth lowest residential mill rate and sits middle of the pack for non-residential. Lloydminster has the second lowest residential property tax rate when compared to the five like-sized municipalities in Saskatchewan.

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. In 2024, with the assessment and the approved mill rate changes, the tax levy will collect an estimated $46,208,285 for municipal purposes. All work to be completed in 2024 was approved in the 2024 budget.

* Indicates percentage change between 2024 and 2023.

** The Seamless Education levy is a unique levy to Lloydminster that enables schools on both sides of the border to offer the same curriculum (e.g., driver training). The levy is set through an agreement between Council and the school boards, and the money received is remitted directly to the school divisions.

*** The Alberta and Saskatchewan governments require the City of Lloydminster to collect the education levy on their behalf based on Lloydminster’s assessment value. The mill rate is set by the provinces, and the money received is then provided to the local catholic and public school divisions for dispersal.

2024 Property Taxes and Payment Options

Property owners can opt-in to receive their assessment and taxation notices electronically. This paperless option will allow easy access to assessment and taxation documents on Virtual City Hall, reduce clutter around the home and reduce business costs associated with printing. Most importantly, switching to paperless will help protect the environment.

Payments can be made at: 

• City Hall (cash, debit or cheque), 
• a financial institution, or 
• through online banking.

Once property owners have paid their 2024 property taxes, they can sign up for pre-authorized debit payments to get a head start on their 2025 property taxes.

2024 tax notices are scheduled to be printed and mailed or sent electronically on Friday, June 7, 2024, and are due upon sending. Under the Penalty Bylaw, the last payment date before penalties is Thursday, July 25, 2024.

For more information, visit Lloydminster.ca/payments or LloydTaxes.ca.

Background

Council is required to pass a property tax bylaw annually under sections 302 and 319 of the Lloydminster Charter to set mill rates. These rates are calculated based on the required revenues determined during the budget process, the requisitions from the school divisions and the new assessment roll received from the City Assessor.

Approval of the bylaw is required to begin the levy process and ensure 2024 tax notices are delivered to property owners in a timely manner.