Lloydminster Council has approved the 2025 budget.
During the Nov. 25 council meeting, council received an update from regarding the upcoming 2025 budget.
The proposed tax increase is 4.5 per cent with a utility fee increase of 5 per cent. A tax bylaw will have to be passed for the proposed tax increase to take effect.
Some additions made to this draft of the budget include, an increase in funding for homeless initiatives and three capital projects added , 75 Ave. road improvements, 40 Ave. and 44 St. Ditch and Roadway Widening, Fieldhouses floor Regeneration
Discussions around the table explored a variety of topics including, finding more ways for the city to make money, specifics within departments and the level of service being offered through the budget, among many other budget specifics.
Council ultimately approved the 2025 budget, with a total operating revenue of $60,646,910; with operating expenditures of $110,049,011 resulting in municipal taxation levy requirement of $49,442,387 (excluding amortization of $22,671,679) and the 2025 Capital budget which has total capital revenues of $52,954,173 to support total costs of $52,954,173.
Council also accepted the operating written plans for 2026, 2027, 2028 and the ten-year capital plan in principle.
More to come…
Read more: Lloydminster to face 4.5 per cent tax hike
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