North Vancouver City Budget Proposes Significant Tax Increase for Residents
Fiscal season continues to bring higher-than-usual tax increases on the North Shore
Municipal tax rates in the city of North Vancouver are expected to increase 5.24 percent in 2023 based on the proposed budget being presented to the council.
The city’s Treasury Department released the 2023 budget on Friday and will be accepting public comments on it through noon on February 9.
For the owner of a home that is valued at an average of $1.43 million, staff estimates this year’s tax bill will be $120 higher than last year, excluding Metro Vancouver, school taxes, TransLink and other fees, appearing on the same invoice.
Of this 5.4 percent increase, three percent is accounted for by operating budget inflation. Another 1% will be devoted to capital infrastructure, with the remaining 1.24% going to new items and personnel. Among the new hires listed in the 6.5 full-time equivalents: One additional firefighter, one additional employee for the bylaws department, and new hires in the human resources and real estate departments.
“Only the highest priorities will come before council to manage the impact of tax rates on property owners,” the city’s staff report comments on new initiatives.
The Council is expected to hold its first public discussion of the proposed budget at the February 13 meeting.
Anyone wishing to review and comment on items in the budget can do so via letstalk.cnv.org/budget2023.
All three North Shore Councils have begun their budget talks for the year. The West Vancouver District’s budget proposal calls for a 6.07 percent increase in local taxes. The draft plan before the District of North Vancouver Council calls for a 4.5 percent increase, although debate is ongoing as to whether this should be higher to pay for more capital projects such as artificial turf fields and bike lanes.
None of the budget regulations have been put to the vote of the councils and the tax rates and spending contained therein are subject to change following public consultation and debate in the council.
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