Vancouver, B.C.: The Canadian Taxpayers Federation is demanding that the City of Vancouver immediately cut its spending to avoid nine per cent year over year property tax hikes. The projected tax hikes were disclosed in a report from Vancouver City Hall.

“Jacking up property taxes will make our unaffordable housing situation even worse,” said Carson Binda, British Columbia Director for the Canadian Taxpayers Federation. “It’s completely unacceptable for city hall to think about raising property taxes by nine per cent every single year.” 

A report released this week by Vancouver’s Director of Finance calls for nine per cent property tax increases every year until 2028. This new proposal from city staff comes on the heels of a 10.7 per cent tax hike announced in the most recent city budget. 

Vancouver’s local government will spend $730 million per year on capital spending alone, which the report points to as “a significant increase from past levels.” 

“That runaway spending is driving up taxes and that’s going to be passed onto homeowners and renters,” said Binda. “It defies logic that Mayor Ken Sim and his council are even musing about higher taxes. Sim and his council need to start looking for real savings and controlling spending, instead of slapping taxpayers with ever rising tax-bills”. 

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