Mayor and Council approved the 2024 Operating and Capital Budget on December 12, 2023. Vancouver City Council has approved:
- An operating budget for 2024 totalling $2.2 billion
- A capital budget totalling $367.8 million
Operating budget
The operating budget reflects an overall property tax increase of 7.5%, made up of:
- 1% for additional infrastructure renewal
- 3% for Vancouver Police Department (VPD) services
- 3.5% for funding across all City services
Capital budget
For the 2024 Capital Budget, we are prioritizing the delivery of $1.25 billion in previously approved multi-year capital project budgets along with additions of $367.8 million. The 2024 capital expenditure budget of $782 million represents a 7% increase compared to 2023.
2024 Budget PDF file (19 MB)
The purpose of this document is to provide information about our 2024 Budget. This comprehensive budget document includes the 2024 Operating Budget, Property Endowment Fund operating budget, Capital Budget, and Consolidated Budget.
Supporting information
2025 Budget process timeline
-
May 2024
Develop Budget Outlook
-
Late May 2024
Council review of Budget Outlook
-
Aug-Sept 2024
Budget engagement
-
Aug-Sept 2024
Develop department service plans
-
Sept-Nov 2024
Develop draft 2025 Budget
-
November 2024
Draft Budget is published and made available to Council and public
-
December 2024
Council approves 2025 Budget