Vancouver mayor admits proposed 9.7% property tax increase 'sucks'

Vancouver Mayor Ken Sim revealed he has a list of five things he wants to achieve while in the city’s top job, and then his time is up.

Sim made the admission Monday during an exclusive interview with CTV News to discuss his first 100 days in office, as well as the upcoming City of Vancouver budget discussions.

“There are five things that I’ve written on a list that are private, and as soon as we accomplish those five things it will be my time to make room for the next individual,” Sim said. “And if it takes three years or eight years or 12 years, I’m committed to having those five things achieved.”

When pushed on what those goals are, Sim said he doesn’t “share that list with anyone,” but believes people could probably guess what his priorities are.

“You see a focus on the Downtown Eastside and Chinatown, you see a focus on creating an incredibly vibrant city, you see themes around sustainability,” he said. “Politicians tend to get stale and they don't know when to leave. I will know exactly when it’s my time to pass the torch to the next person.”

PROPERTY TAX INCREASE: 'IT 'SUCKS'

This week, Vancouver city council will discuss the 2023 operating budget which proposes a 9.7 per cent increase in property taxes, the biggest hike in more than a decade.

Sim called the city’s current financial position “challenging” and “a bit of a mess,” referencing depleted cash reserves and $500 million in infrastructure deficit.

“We have not been investing in our infrastructure and you’re seeing that right now with potholes in the street, the Kitsilano pool being closed for effectively a whole year, the side of the building of the aquatic center falling off,” he said.

Sim added that without significant sewer investments, there may be a situation where “you can't flush the toilets in the City of Vancouver in 20 years.”

There is debate expected around the amount of funding directed to the Vancouver Police Department, which represents the largest portion of city spending. Of the 9.7 per cent proposed property tax increase, 2.7 per cent of that is earmarked for the VPD.

As for how much more people will be paying - according to Coun. Pete Fry, the average single family home assessed at $2 million is going to look at about a $450 increase this year with taxes and fees.

Sim admits it’s not ideal at a time when almost everything is more expensive.

“It sucks. And the reality is the whole region is facing the same challenges. We have challenges that are unique to Vancouver,” he said. “These are the hard choices we have to make.”