Here's how much Vancouver's property tax is set to increase in 2024

Vancouver property owners will see a tax increase of 7.5 per cent next year.

City council passed the 2024 budget Tuesday, setting the rate lower than the 7.6 per cent recommended in the draft budget and two per cent lower than staff projected earlier this year.

The decrease came via an amendment by Mayor Ken Sim.

“It is 27 cents per day for the average condo owner and 71 cents per day to the average homeowner,” Sim said during the meeting.

"Through the hard work of city staff at council’s direction, increased cost savings have been identified to alleviate the burden on Vancouver taxpayers," Sim said in a news release after the $2.2-billion operating budget was passed.

The opposition councillors all abstained from voting on the amendment – noting there was no detailed information put forward about where cuts would be made.

Funding for the Vancouver Police Department accounts for three per cent of the tax increase, infrastructure renewal accounts for one per cent and "funding across all city services" makes up the remaining 3.5 per cent.

One tweak to the budget that came under fire from the opposition councillors was an $180,000 annual increase in funding for the mayor's office.

Sim wasn’t made available for an interview after the meeting, but ABC Coun. Rebecca Bligh spoke about how Sim plans to use those funds.

“With every event invite, we need staff time to be able to research it and become aware of various organizations in how we can support them,” said Bligh, claiming the funds will be used for Sim and staff to attend more public events and host more meetings.

“So there’s a lot of work that goes into being accessible and available to the public.”

Green party Coun. Pete Fry questioned how Sim came up with the figure and where exactly the funds will go.

“I’ve challenged the mayor’s office to be a bit more accountable and transparent about what happens, where the money goes, where we’re making the spends,” said Fry. “It’s frustrating because a lot of it happens behind closed doors.”