Annual operating costs to run the City
million
To build our budget each year, we must balance the need to provide services, facilities, and infrastructure that meet the needs of our residents and businesses with the desire to keep property tax and utility rate increases at a manageable level.
Get to know the 2020 Budget
Budget documents:
New multi-year capital project commitments
million
2020 capital costs
million
Find out how the new and ongoing investments in both the operating and capital budgets align to Council’s priorities
Property tax increase
For the 2020 tax year, Council approved a property tax increase of 7%, which for the median overall residential property owner in Vancouver is equivalent to an increase of about:
- $130 for the year or $11 per month
- $225 additional for 2020 for the median business property
Breakdown of the approved property tax increase
What does “median overall” mean? It’s the “mid point” in terms of assessed value —half of the properties in Vancouver are assessed at more than, and half are assessed at less than, the value of the median overall property (includes all residential properties across the city). BC Assessment determines the assessed value of your property, not us.