Internal spending controls have allowed for Vancouver's lowest rate of taxation in many years.
At next week’s council meeting, Annette Klein, Director of Budget Services for the City of Vancouver, will present an administrative report on the 2010 operating budget preliminary estimates.
In it, the “funding shortfall of $61.7 million, equivalent to a property tax increase of 11.2% before considering anticipated revenue increases,” is acknowledged.
If you listen to Councillor Suzanne Anton, or the boys over at City Caucus, this was going to mean record tax increases for Vancouver property owners.
But because Council “directed staff to come up with a budget with no increase in property taxes,” as previously referenced by Councillor Raymond Louie, this report is recommending not only Vancouver’s lowest tax increase in many years, but also the lowest when compared to the 2009 tax rates of neighbouring cities.
