Money in: Funding the budget

The information on this page relates to the 2021 Budget. 2022 Budget details will be posted once approved by Council.

2021 operating revenue, $1,597 million

59% -  Property tax

21%  - Utility fees

5% - Licence and development fees

4% - Parking

4% - Cost recoveries, grants, and donations

2% - Program fees

2% - Rental, lease, and other

1% - By-law fines

1% - Investment income

1% - Revenue sharing

To fund our annual budget, the majority of the money we use to run the city comes from property taxes and utility fees collected from homeowners and businesses. The remainder comes from:

Where do my property taxes go?

About half of the property taxes collected funds city services; the rest goes to the Province and other taxing authorities including regional services such as transit, supplying drinking water, and treatment of wastewater.

Loonie pie chart  -23% -  Provincial school taxes 15%  - Metro Vancouver (tax and utilities) 7% - Translink 1% - BC Assessment and Municipal Finance Authority 54% - City of Vancouver (tax and utilities) 2021 data, based on the median, single-family home

23% -  Provincial school taxes, net of home owners grant

15%  - Metro Vancouver (tax and utilities)

7% - Translink

1% - BC Assessment and Municipal Finance Authority

54% - City of Vancouver (tax and utilities)

2021 data, based on the median, single-family home

How does the 2021 Budget affect my property taxes?