Vancouver mayor says he knows a 10.7% increase in property taxes ‘sucks’
Global News
Ken Sim said the previous council's spending during the COVID-19 pandemic drained the city's cash reserves but the greatest concern is that core services need to be updated.
Vancouver city council is now proposing a 10.7 per cent increase in property taxes for the coming year, which is the biggest increase in more than a decade.
An increase of 9.7 per cent was proposed previously.
Mayor Ken Sim made the announcement Tuesday morning, saying he knows property tax increases are hard.
“Frankly, they suck,” he said. “We completely understand that nobody likes property tax increases.”
However, Sim said the majority ABC council was elected with a “clear mandate for change.
“I believe it’s important that we talk about the current state of our city’s finances,” he said. “As with many other governments around the region, inflation and the rising cost of labour continue to place significant pressure on municipal budgets here in Vancouver.”
Sim said the previous council’s spending during the COVID-19 pandemic drained the city’s cash reserves but the greatest concern is the degree to which core services have been neglected over the past decade.
He said this includes public safety, road upkeep, sanitation services and critical infrastructure maintenance.
