The Canadian Taxpayers Federation says it's going to be an expensive New Year for B.C. residents, who will face tax hikes on everything from health care to property, along with increases in transit fees and hydro rates.

Federation BC Director Jordan Bateman says medical service premiums in the province will rise for the fourth straight year, with the family rate jumping to 133 dollars a month, or 60 dollars more.

He says Transit fares in Metro Vancouver and the Fraser Valley go up between 10 and 28 per cent January 1st, BC Hydro rates will rise almost four per cent on April 1st, and municipal property taxes will jump in most B.C. cities in July by one to three per cent.

In addition, B.C. residents, like all other Canadians, will face higher Canada Pension Plan contributions and higher Employment Insurance taxes in the New Year.