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

Business groups walk back claim on share of Canadians hit by capital gains changes

Prominent business groups are backtracking their claim that one in five Canadians would be affected by the federal government's proposed changes to capital gains taxation.

Business groups walk back claim on share of Canadians hit by capital gains changes

London Drugs president warns that cyber attackers 'constantly probing for weaknesses'

The president of London Drugs doesn't know why the company was targeted in a cyber attack that forced it to close its stores for more than week, but Clint Mahlman says hackers with sophisticated methods are "constantly probing for weaknesses" of online systems.

London Drugs president warns that cyber attackers 'constantly probing for weaknesses'

Start of wildfire season better than last year, but risk is high as drought continues

The start to wildfire season has been far less dramatic than it was last year but the risk of hot, dry weather and severe fires remains high, officials warned Thursday.

Start of wildfire season better than last year, but risk is high as drought continues

B.C. drivers to get $110 insurance rebate, with rate increases on hold until 2026

Most British Columbia drivers will get a vehicle insurance rebate of $110 this year and basic renewal rates will remain frozen until at least March 2026.

B.C. drivers to get $110 insurance rebate, with rate increases on hold until 2026

Saskatchewan education minister considering school year extension amid teachers vote

Saskatchewan's education minister is being accused of trying to influence a teachers vote after saying he's not ruling out extending the school year should educators reject his offer and take job action.