Strong Financial Management

Respecting Your Tax Dollars

We are delivering on our promise to reduce the tax burden while maintaining and enhancing the services and infrastructure that make our city one of the best places in the world to live, work and play.

Maximizing Taxpayer Dollars

The Mayor’s Budget Task Force was created to enhance the overall long-term financial well-being of our city.

The Task Force is responsible for going through the budget with a fine-tooth comb, identifying inefficiencies and
potential revenue opportunities, and recommending ways that we can use your tax dollars more efficiently and responsibly.

Key achievements include modernizing funding, cost-saving initiatives, the adoption of new technologies and a strong focus on core services.
Identified $26.3 million in savings – without cutting essential services or jobs.
Achieved one of the lowest property tax increases in the region.
Steadily reduced tax increases – Budget 2025 included a tax increase of just 2.9%, with an additional 1% dedicated to renewing critical infrastructure such as water and sewer lines.
Partnerships with senior governments, First Nations and community groups are delivering real benefits for Vancouver.

Focusing on Smart Budgeting

The 2025 Capital Budget is $880 million and supports delivery of initiatives outlined in the 2023-2026 Capital Plan.

Creating a Vibrant Vancouver

In 2023, Council approved nine City Council strategic priorities with a focus on the issues and opportunities most
important to Vancouver residents and businesses.

Mid-term Strategic Priorities Progress Report

The 2024 mid-term progress report included several notable outcomes:

27 destination events. Working with Destination Vancouver and Vancouver Hotel Destination Association, supported 14 sport and 13 cultural destination events in 2024 with a $117 million economic impact.
Chinatown revitalization. $2 million annual investment, street parking rate adjustments to increase traffic, a new City Hall satellite office and 45% increase in micro-cleaning services in area.
New multiplex program. Adopted multiplex zoning, resulting in 330 permits in the first year of adoption and paving the way for over 1,000 new homes.
Permitting improvements. Eliminated permit requirements for low-density housing projects by 65%. Straightforward renovation permits are now processed within three days on average. Eliminated 65% of permit requirements for low-density housing projects.
Licensing transformation. Introduced online business licence applications, resulting in an 85% reduction in average processing time. Modernized liquor policy to lift moratorium on new and expanded liquor establishments and permitted sale of wine and beer in qualifying grocery stores.
Water and sewer growth. Delivered 5.3 km of new water and sewage pipes and 12.5 km of separations for sanitary and storm sewer lines to support population and development growth.
Public safety enhancements. An additional 100 VPD officers, increased walking patrols and more agile response capabilities, as well as additional nurses to support public safety and security. Vancouver Fire Rescue Services became the first fire service in North America to transition to PFAS-free turnout gear, reducing cancer risk for firefighters.