As financial pressures continue for many, a small semblance of relief is on its way for Lloydminster residents as the city lowers its mill rate.
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At the May 25 regular council meeting, City of Lloydminster council gave the final two readings to the mill rate bylaw. The bylaw lowers the mill rate by 1.22 per cent after a notable increase in property tax assessments.
“New taxable assessment is $65M, which is a 1.3 per cent increase. This is due to new construction, the completion of new construction and any reinspections that are done,” said Ryan Hill, financial planning and analysis manager for the city, at the May 4 regular council meeting.
“Inflation showed an increased taxable assessment of $392M or a 7.8 per cent increase.
“The majority of our growth is due to inflation, though we did see some real growth as well.”
Since that May 4 regular council meeting, a few assessment revisions were completed. As of May 14, the total taxable assessment of the 2026 tax year of $5.509B, which is up $454M from 2025, or an 8.99 per cent increase.
For council, the drop in taxation was a big win.
“It’s always good for council to see a decrease,” said Deputy Mayor Justin Vance. “It feels like a little win when folks out there are struggling. It shows we’re trying to do everything we can from a city side to help people.
“I think everyone around the table is quite pleased about seeing a decrease when so many municipalities across the province are seeing increases with constant pressures of inflation.”
The city will begin mailing out property tax notices with penalties on current year taxes beginning after July 25.
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