Real estate in Vancouver: Imminent increase in property taxes

The City of Vancouver has approved a new budget for 2022, which includes a higher than expected property tax increase of 6.35%.

The bump is due in part to a new climate tax, which Coun. Pete Fry said it was 1% of the tax increase.

“It will cover a lot of the climate resilience that we need to address now more than ever, especially in light of what we’ve seen this summer with the heated dome, with the flooding in Abbotsford,” Fry said after the vote. .

In a statement, Mayor Kennedy Stewart said, “Budget 2022 is a direct response to the challenges of COVID-19 and charts a bold course with dedicated long-term funding to address the climate emergency that has ravaged our region. .

According to the City of Vancouver, the increase equates to $6 per month for the median condo, $14 per month for the median single-family home and $26 per month for the median commercial property.

The vote was not unanimous. Most items in the budget passed by a 6-5 vote. The six votes were made up by Stewart, OneCity Coun. Christine Boyle, the three Green Party councilors (Adriane Carr, Pete Fry and Michael Wiebe) and the COPE Coun. John Swanson. The other five councilors were originally elected under the NPA banner – Colleen Hardwick, Rebecca Bligh, Melissa De Genova, Lisa Dominato and Sarah Kirby-Yung.

After the vote, the council. Kirby-Yung wrote on Twitter, “Voting for this budget is a broken promise to Vancouver residents, tenants, landlords, families, youth and small businesses. The mayor and council promised that taxes would be 5% max. Now the majority have raised taxes by 25%+ in 4 years. I don’t know anyone whose income has increased by 25%. »

There’s more funding for the city’s police and fire department, and more money for park rangers.

The higher taxes will also pay for more cleaning of streets, public squares and small parks.

Previous 8/68 Esplanade, Golden Beach, Queensland 4551 | Caloundra
Next Etiquette in the land and online game