The City of Vancouver plans to raise property taxes 2.4% in 2015, according to a draft budget released February 13.
That’s a steeper increase than in 2014, when the city raised property taxes 1.9%
The city plans to increase user fees for most city services by 2%. Utility rates will go up 4.3% because of increases passed on by the regional district and the cost of implementing a new provincial recycling system.
As in 2014, businesses reported less satisfaction with city services in 2015 than other groups. Source: City of Vancouver
The city estimates that property tax for an average condo will be $23 a year; $63 a year for an average detached home owner; and $471 for an average commercial properties. Property tax for commercial property is currently 4.5 times the residential rate.
The city plans to increase its expenditures by 3.7% in 2015, and said the trend of above-average inflation for fire and police wages was a main driver of the budget gap.