Assessments are in, and— surprise—house values are lower

By Kassidy Christensen

March 6, 2017 1:22 PM

Decreases seen on average for 2017 property assessments

Property tax assessments for residential, commercial and industrial properties have been hitting Border City residents’ mailboxes to notify them of an overall decrease in assessed property values for 2017.
On average, property values were assessed roughly 8.1 per cent lower than in 2016, according to Lisa Buchan, director of business services with the City of Lloydminster.
Buchan said the assessment process went well for 2017, with values being posted Feb. 21. She attributed the decrease in value as a result of market trend.
“Just as a result of the market in the last couple years people are starting to see the impact on their assessments,” she said.
KCL Consulting Inc., on behalf of the city, was responsible for assessing properties.
The mill rate for 2017 is yet to be determined by council, to which Buchan said should be set by early-to-mid May and will determine the rate of property tax to be paid by residents.
As displayed in the city’s budget, Buchan said, a four per cent increase in funds will come from property tax revenue. 
Lloydminster resident Lloyd Lavigne said he was initially surprised by his assessment this year.
“Surprised at how much they actually dropped,” he said.
“Our house, our personal resident actually went up, but my industrial properties went down.”
Buchan encouraged residents with inquiries or wanting to have their property reassessed to contact the tax desk at City Hall, or visit www.lloydtaxes.ca, a new service provided this year dedicated solely to assessment and taxation.
“It (the website) has some really good information on how the assessment are calculated, how it relates to your taxes, and it also has the inquiry and resolution process steps outlined there with contact information.”
The deadline to file assessment complaints is April 24.
Buchan said walk-ins are welcome at the March 15 open house, however she encouraged residents to make an appointment by phoning 780-875-6184 ext. 2124.
“If people have questions where they would actually like to meet with our assessor, it (the open house) is a great opportunity for them to bring in their assessment notice,” Buchan said.
As per the City of Lloydminster website, property taxes provide 28 per cent of its annual operating budget. 
The funds go towards public services such as street maintenance, waste management, operation of parks, water supply/distribution and policing and protective services, among others.

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