Vancouver raises taxes 2.9 per cent
Homeowners in Vancouver will be hit with a property tax increase of 2.9 per cent this year slightly higher than expected.
Council opted for a higher increase so it could build more money into its contingency fund.
But the 2.9-per-cent increase is in line with what other Lower Mainland municipalities have settled on this year and it's slightly lower than the average increase in Vancouver over the past six years.
For the average Vancouver homeowner with a property assessed at $433,000, the tax increase will mean about $65 added to the annual tax bill.
The city relied on a public opinion survey in deciding its spending prioriities for the year.
- FROM MAR. 5, 2004: Crime concerns top city survey
That survey shows crime and public safety are top-of-mind issues for Vancouver residents. As a result, the police department will see a budget increase of 4.2 per cent to $138 million.