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The City of Lethbridge has approved its property tax rates for 2024. (Photo: Lethbridge News Now)

Property tax hikes approved in Lethbridge

May 14, 2024 | 2:54 PM

LETHBRIDGE, AB – Property owners in Lethbridge will find themselves paying a bit more in taxes this year.

City Council voted during the Tuesday, May 14, 2024 meeting to approve its 2024 Property Tax and Supplementary Property Tax Rate Bylaw.

The municipal portion will increase by 5.1 per cent this year, in line with the previously-approved annual increases in 2023-2026.

The provincial education tax levy is set to go up by an average of 6.04 per cent. That includes a 7.26 per cent jump for residential property owners and 2.82 per cent for commercial and industrial.

The final part is the Green Acres tax levy, which funds affordable housing for seniors. It will go up by 4.72 per cent.

As shown in the image below, the municipal portion makes up just under 80 per cent of all property taxes collected in Lethbridge. A little over 19 per cent goes to education and around one per cent pays for Green Acres.

A breakdown of how much money is collected from each category of property taxes in Lethbridge. (Photo: City of Lethbridge)

In addition to the tax levies going up, the City of Lethbridge says the average residential property value in the community increased by 5.3 per cent, multi-family by eight per cent, and non-residential by 6.2 per cent.

All 2024 property tax notices will be sent out in the mail on May 29. Those looking to pay the full year’s amount at once will have until June 28 to do so.

Alternatively, residents can sign up for the Tax Installment Pre-Payment Plan (TIPP) and pay their taxes on a monthly basis.

More details on property taxes are available on the City of Lethbridge website.

READ MORE: Lethbridge News Now

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