Vancouver property tax increase could be 10.7%

Vancouver Mayor Ken Sim has announced that municipal taxpayers in the city won’t be facing a potential tax hike of 9.5 per cent, instead, proposing a roughly 10.7 per cent increase.

In a news conference Tuesday morning, Sim says it’s needed to provide all the services people need.

“As with many governments around the region, inflation and the rising costs of labour continue to place significant pressure on municipal budgets,” the mayor said.

---

Related Articles: 

• Vancouver property tax increase proposal tops 9 per cent

• Vancouver’s police officer plan could lead to higher property taxes

• Surrey property tax could rise for policing: ‘We have no choice’

---

Sim says in Vancouver, pandemic spending has “drained the city’s cash reserves,” and a new amendment to the budget will be moved by Coun. Sarah Kirby-Yung.

“The greatest area of concern is the degree to which core services have been neglected over the last decade in an effort to keep taxes artificially low. Public safety, road upkeep, sanitation services, and critical infrastructure maintenance have been severely underfunded, and this has had significant consequences for our city,” Sim said.

Sim says the proposed amendment will focus on “key priority areas,” including road maintenance and pothole repairs, along with a plan to tackle the city’s snow response.

“Under this amendment, there would finally be a dedicated line item for snow readiness and response to the tune of $1.8 million, annually,” he said.

“I know increases like this are hard. Frankly, they suck. We completely understand that. Nobody likes property tax increases. However, leadership and government sometimes mean making incredibly hard choices. Taxpayers expect value for their money, and we all deserve to live in a city that we can be proud of,” he said.

The budget for the fiscal year, if approved, would be just under $2 billion.

The final budget approval is slated to be made in March.

–With files from Dean Recksiedler