Lloydminster's 2024 municipal budget approved
Lloydminster, AB/SK – As a result of budget deliberations held on November 8 and November 20, 2023, Lloydminster City Council approved the 2024 municipal budget, ensuring the municipality can continue to deliver essential services while advancing priorities outlined in Council’s 2022-2025 strategic plan.
The approved budget equates to an approximate tax levy increase of $8 per month on a residential property assessed at $350,000. An additional $2 per month on the same property will help support the approved infrastructure gap reserve fund.
The 2024 budget includes an investment of $64.5 million in capital projects and $102.9 million through the operating budget to deliver municipal programs and services to Lloydminster’s growing community.
“We understand that high inflation has presented challenges for people at home and municipalities across the country. We are pleased to share that the Lloydminster Council has approved a budget that is both fiscally responsible and aligned with our strategic priorities,” says Mayor Gerald Aalbers. “We prioritize enhancing the quality of life for our residents while maintaining service levels, and we remain committed to achieving this goal.”
Some major 2024 capital projects include:
- Construction of the Cenovus Energy Hub
- Continued investment in underground infrastructure
- Road resurfacing projects
The capital budget also supports other infrastructure needs, emergency services equipment and environmental services to support Lloydminster’s estimated three per cent growth in 2024.
Some major 2024 operational projects include:
- Public transportation planning
- Housing needs assessment and strategy
“The budget for the upcoming year is designed to align with and support the five pillars of community and sustainability as outlined in the 2022-2025 strategic plan. These pillars include Governance, Culture, Social, Economy and Environment,” says Dion Pollard, City Manager. “The budget also includes the continued funding of the 2024 Saskatchewan Summer Games and staple community events such as Winter Fest, Canada Day, Fall Fest and Heritage Day, along with additional programming and events at various city facilities.”
2024 Budget Impacts
The budget includes a municipal tax levy increase of 5%, assumes a 3% growth in assessment, and a user fee increase of 5%, allowing the City of Lloydminster to keep pace with inflationary costs, maintain current service levels, and contribute 1% and 1.5% respectively to the operating and capital reserves annually.
The budget includes a 1% infrastructure gap levy, which will aid in replacing aging infrastructure over at least 10 years.
Residential Impact
Based on a 5% municipal tax levy increase and approximate 3% growth. Assumes no changes in assessed market value or education taxes.
|
|
Value of $250,000 |
Value of $350,000 |
Value of $500,000 |
|
2023 |
$1,815 Municipal $100 Seamless $662 Education $2,577 Taxes |
$2,542 Municipal $141 Seamless $926 Education $3,608 Taxes |
$3,631 Municipal $200 Seamless $1,323 Education $5,154 Taxes |
|
2024 |
$1,906 Municipal $76 Seamless $662 Education $2,561 taxes |
$2,669 municipal $106 Seamless $926 Education $3,701 Taxes |
$3,812 Municipal $152 Seamless $1,323 Education $5,287 Taxes |
|
Monthly Difference |
+$6/mo |
+$8/mo |
+$11/mo |
|
Infrastructure Contribution (additional) |
+$1/mo |
+$2/mo |
+$3/mo |
Non-Residential Impact
Based on a 5% municipal tax levy increase and approximately 3% growth. Assumes no changes in assessed market value or education taxes.
|
|
Value of $500,000 |
Value of $1,000,000 |
Value of $1,500,000 |
|
2023 |
$6,535 Municipal $200 Seamless $1,940 Education $8,675 Taxes |
$13,069 Municipal $421 Seamless $3,879 Education $17,369 Taxes |
$19,603 Municipal $601 Seamless $5,819 Education $26,023 Taxes |
|
2024 |
$6,861 Municipal $152 Seamless $1,940 Education $8,953 Taxes |
$13,723 Municipal $319 Seamless $3,879 Education $17,920 Taxes |
$20,583 Municipal $455 Seamless $5,819 Education $26,587 Taxes |
|
Monthly Difference |
+$23/mo |
+$46/mo |
+$70/mo |
|
Infrastructure Contribution (additional) |
+$6/mo |
+$11/mo |
+$17/mo |
Residential Utility
Based on a 5% utility increase. Assumes an overall increase – further work is necessary to breakdown between water, sewer and waste management.
|
|
Low Consumption (10m3) |
Medium Consumption (25m3) |
High Consumption (60m3) |
|
2023 |
$101/mth |
$161/mth |
$312/mth |
|
2024 |
$107/mth |
$169/mth |
$328/mth |
|
Monthly Difference |
+$6/mth |
+$8/mth |
+$16/mth |
Non-Residential Utility
Based on a 5% utility increase. Assumes an overall increase – further work is necessary to breakdown between water, sewer and waste management.
|
|
Low Consumption (15m3) ¾” meter |
Medium Consumption (80m3) 1” meter |
High Consumption (1,300m3) 2” meter |
|
2023 |
$108/mth |
$411/mth |
$5,778/mth |
|
2024 |
$113/mth |
$432/mth |
$6,067/mth |
|
Monthly Difference |
+$5/mth |
+$21/mth |
+$289/mth |
Learn More
Residents were invited to provide input to help shape the 2024 budget through a public survey from June 13 through August 24, 2023. More than 290 people took the time to complete the survey, and 302 comments were reviewed for future consideration. Additionally, more than 450 people attended five in-person budget engagement events. Learn more about these engagement findings at YourVoiceLloyd.ca/2024budget.
Review the 2024 operating and capital budget documents at Lloydminster.ca/budget and watch a recording of the November 8 and 20, 2023, presentations at Lloydminster.ca/agenda.
The final mill rate for Lloydminster's 2024 municipal budget is expected to be set in April or May of 2024. This rate will determine the property tax amount for 2024. Learn more about the mill rate at LloydTaxes.ca.
Contact Us
City of Lloydminster
4420 50 Avenue, Lloydminster
AB/SK, T9V 0W2
Phone: 780-875-6184
Fax: 780-871-8345
Email: info@lloydminster.ca