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Vancouver budget sets property tax increase at 7.5 per cent
BY Connect News, Dec 13, 2023 6:45 PM - REPORT AN ERROR
The city's operating budget for 2024 will be $2.2 billion, of which $367.8 million will be spent on capital projects such as sewer replacements. (Photo: The Canadian Press)
Vancouver residents will have to pay more in residential taxes next year, which is set to increase by 7.5%.
According to Vancouver Mayor Ken Sim, city staff presented the 2024-2028 Budget Outlook in June.
It was projected to grow by 9.5% until the cuts were made. Sim said the council asked staff to figure out the savings after which the increase could be capped at 7.5%. 3% of this will be given to the Vancouver Police Department, whose budget for the year 2024 will be half a billion dollars, i.e. about $472 million.
Sim was successful in getting support from the council to support a $100,000 increase in discretionary spending for his office and an additional $80,000 for the city clerk's office. The Vancouver Public Library also received another $180,000, bringing its 2024 budget to $67 million.
The city's operating budget for 2024 will be $2.2 billion, of which $367.8 million will be spent on capital projects such as sewer replacements. The 2024 budget for the Vancouver Park Board will be $248 million.
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