National

Increase in Vancouver property tax in 2025

Darpan News Desk The Canadian Press, 10 Dec, 2024 04:50 PM

Vancouver City Council has approved a property tax increase of 2.9 per cent, with an additional one per cent dedicated to renewing critical infrastructure.

A statement from the city says the overall increase of 3.9 per cent is one of the lowest across the region following a 7.5 per cent increase for 2024.

City Council has approved the 2025 budget, including:
🚒 An operating budget totaling $2.34B
🏗️ A capital budget totaling $880M
🏘️ A 3.9% property tax increase

Learn more about the budget and progress made towards Council's strategic priorities: https://t.co/qpYLE9HxVA pic.twitter.com/YdgrwKpfb8
— City of Vancouver (@CityofVancouver) December 10, 2024

Mayor Ken Sim had earlier set a cap of 5.5 per cent for the 2025 increase.

Today, Vancouver City Council approved the 2025 budget, delivering a tax increase of just 2.9%, with an additional 1% dedicated to renewing critical infrastructure such as water and sewer lines.

We're investing in a stronger, safer, and more affordable city without cutting… pic.twitter.com/owtQMeSJmC
— Mayor Ken Sim (@KenSimCity) December 10, 2024

The approval came as part of the city's overall operating budget of 2.34 billion dollars next year.

Prev Next

MORE National ARTICLES

Home invasion in Port Moody

Police in Port Moody say a man has been changed over allegations he tried to steal cryptocurrency in a violent home invasion earlier this year. Officers were called by a third-party to request a check on the well-being of a family on April 28th and found multiple victims who needed treatment for several injuries.

Home invasion in Port Moody

B.C. warns of increasing wildfire risk with the return of hot, dry weather

The number of active wildfires in British Columbia is holding steady at just under 340 as the provincial government warns of increasing fire risk this weekend. A statement from the government says people in wildfire-prone areas are "strongly urged" to be vigilant, adhere to fire bans, and be prepared with an emergency plan.

B.C. warns of increasing wildfire risk with the return of hot, dry weather

PBO estimates capital gain tax change to bring in $17.4B in revenue over five years

The parliamentary budget officer estimates the Liberals' increase to the capital gains inclusion rate will bring in $17.4 billion in revenue over five years. That's two billion dollars less than the federal government projected in its spring budget.

PBO estimates capital gain tax change to bring in $17.4B in revenue over five years

B.C. landslide prompts flood warning hundreds of kilometres down the Fraser River

Officials in British Columbia say if a landslide damming the Chilcotin River in the central Interior gives way it could lead to a flood surge for hundreds of kilometres. A government statement says provincial personnel are assessing the risks on the ground and by air at the slide south of Williams Lake.

B.C. landslide prompts flood warning hundreds of kilometres down the Fraser River

Hot long weekend ahead

Drivers are being warned ahead of the upcoming long weekend that lengthy trips and hot temperatures can be a dangerous combination leading to fatigue. The I-C-B-C says even a slight reduction in reaction time can significantly increase the risk of crashing.

Hot long weekend ahead

Man stabbed in New Westminster

Police in New Westminster are looking for witnesses after a man was stabbed downtown on Monday night. Police say a witness flagged down an officer outside the police station to report someone in distress and officers found the man bleeding from his abdomen.