Vancouver draft budget proposes 5.5% property tax increase

Vancouver's proposed 2025 operating budget is $2.4 billion, including a 5.5% property tax increase, raising taxes by approximately $77 for median strata units and $211 for median single-family homes. The Vancouver Police Department seeks an additional $22.8 million, potentially requiring budget cuts or further tax hikes. The budget also proposes an $8 million increase for Vancouver Fire and Rescue Services and allocates $183.9 million for the Vancouver Park Board. Councillors will vote on the budget next week.