Metro Vancouver has approved a $603-million budget that will see overall expenses increase by 5.8 percent.
The new budget for 2011 will mean annual property taxes will rise by around $44 for owners of a Metro Vancouver home with an assessed value of $600,000.
Metro Vancouver directors have expressed disappointment with the budget increases.
Richmond mayor Malcolm Brodie said he doesn’t expect anybody to be happy with the added financial burden taxpayers face with the new plan. But he explained that a rigorous budgeting process was undertaken.
“People in the region have to know that the capital costs are going to escalate dramatically in the future because there are very large projects,” he told reporters. “These are not frills. These are not just some optional items that we’re talking about. These are absolutely necessary infrastructure projects.”
Brodie added that there have been meetings with provincial and federal government officials to emphasize that financial support will be needed for important infrastructure projects.
Vancouver city councillor Andrea Reimer had similar sentiments.
“The 5.8 [percent budget increase] is a tough impact on families and businesses at a time when they have a lot of challenges,” Reimer told the Straight. “The money coming in is probably less or flat for most people, so having expenses go up, like property taxes, is very challenging.”
Coquitlam mayor Richard Stewart said Metro Vancouver is challenged financially by the needs for seismic upgrades to sewage facilities and to meet better water filtration standards.
“From my perspective that’s too much and I think most directors feel the same way,” he told reporters, referring to the size of the levy increase.
