Vancouver's 2023 budget, approved on Tuesday, included a last-minute amendment that increased the property tax hike to 10.7%, the highest the city has seen in at least a decade. realestate realestatenews Vancouver propertytax Vanpoli
Published:The City of Vancouver’s 2023 budget, approved on Tuesday, included a last-minute amendment by Mayor Ken Sim increasing the property tax hike to 10.7% after a draft budget released last week proposed a 9.7% increase.
The City says that the 10.7% increase is made up of a 1% increase for infrastructure renewal, 1% for reserve replenishment, 3% for the Vancouver Police Department , and 5.7% to fund City services. After the last-minute amendment, both of those initiatives are now included, and the VPD budget now totals $401,834,522. In a news release, the City said the amendments to the VPD budget included:
$7.3M for permanent funding of 2021 VPD budget appeal, approved by the Province of BC, as well as new requirements from the Justice Institute of British Columbia recruit training; and $3.4M for the Vancouver Police Department to provide funding to support the following items that were approved by the Vancouver Police Board as part of the provisional 2023 VPD Budget to be funded by additional property tax:Pilot for body-worn cameras — $200,000 One-time Sworn overtime increase in recognition of the current unprecedented number of protests — $969,468 Contract awards — $100,000 Mayor Ken Sim at a press conference on Tuesday.
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