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Today, Lloydminster city council approved the 2022 mill rates resulting in a residential increase of 1.94 per cent and a non-residential increase of 2.68 per cent compared to 2021.
Defined in the 2022 Property Tax Mill Rate and Taxable Assessment Bylaw, mill rates are calculated based on the final assessment roll and the 2022 budget requirements.
The total taxable assessment, including assessment revisions, for the 2022 tax year is $4.505 billion, which is up from $4.438 billion in 2021 or a 1.5 per cent overall increase.
In 2022, with the assessment and proposed mill rate changes, the tax levy will collect an estimated $38,746,085 for municipal purposes, as approved in the 2022 Budget revisions on May 9.
Tax notices will be printed and mailed out on Friday, June 10, and are due upon mailing. Under the Penalty Bylaw, the last payment date before penalties is Monday, July 25. Payments can be made at City Hall, through a financial institution, or online banking. For more information, visit Lloydminster.ca/payments or LloydTaxes.ca.
Approval of the bylaw is required to begin the levy process and ensure 2022 tax notices are delivered to property owners in a timely manner.
