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Mill Rate explanation 2008

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					                                           City of Lloydminster 2008
                                   Sample Calculation For Various Property Classes
                                          With assessed value of $100,000



                             2007                                           Local Prov
                           Assessed      Prov       Taxable     Uniform       Mill Rate   Adjusted
Class                       Value         %       Assessm't     Mill Rate   Factor Factor Mill Rate     Taxes

Agricultural               $ 100,000      100% $ 100,000             8.12        2      1     16.24 $    1,624.00

Residential                $ 100,000      100% $ 100,000             8.12        1      1      8.12 $      812.00

Non Residential            $ 100,000      100% $ 100,000             8.12        2      1     16.24 $    1,624.00

Machinery/Equipment $ 100,000             100% $ 100,000             3.62        2      1      7.24 $      724.00

   Provincially set
                                                          Mill Rate Factors
                                                          set by Council                    Taxable Assessment x
                                                                                            Adjusted Mill Rate =
   Uniform Mill Rate based upon
                                                                                            Taxes
   final School Mill Rates and                           Uniform Mill Rate x's
   approved City Municipal Tax                           Mill Rate Factors =
   Budget                                                Adjusted Mill Rate

               2008 Business Improvement District (BID) mill rate = 1.80 mills

               In 2008 Where do your Taxes Go?

                                Mill                 Share of Taxes
                               Rates              Residential    %

               City               3.62            $   362.00         45%

               School             4.50            $   450.00         55%

               Total              8.12            $   812.00       100%


               Non Declared % Spit:

               Public School             82.08%

               Separate School           17.92%

                                          100%


                                                                                                        May 20, 2008




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