Today City Council approved Vancouver’s 2017 Budget, which offers a broad range of services using a limited range of revenue sources. The 2017 Budget makes a record investment in affordable housing, provides new funding to improve city services like permits and licensing, and adds targeted funding to address the fentanyl overdose crisis that is putting a huge strain on City police and fire services.
“The City of Vancouver plays a strong role in supporting our city’s economic leadership and enhancing the livability and quality of life for our residents,” said Mayor Gregor Robertson. “Our economy is thriving and we are responding to a diverse set of needs as our city struggles with the fentanyl crisis and a huge demand for affordable housing.”
The City's 2017 Budget focuses on:
- Addressing housing needs and building new affordable housing
- Improving City services like reducing wait times for permits and licensing
- Investing in child care and City services like libraries and fire response
- Making Vancouver a greener, more resilient city
This year's Capital budget invests $80M in affordable housing - the largest one-time investment in Vancouver's history. Council also approved an extra 0.5% property tax increase to provide funds to support front-line services that are dealing with the fentanyl overdose crisis. In November alone, Vancouver Fire and Rescue Services responded to 735 overdoses and were required to use life-saving naloxone kits 35 times – both figures represent the highest monthly totals in 2016. The total property tax increase for 2017 is 3.9%.
Approximately 75% of Vancouver residents surveyed this year say they are satisfied with City services. The City receives the strongest satisfaction ratings for its provision of basic services (sewer, water, drainage), fire prevention and responding to medical calls, and garbage collection, composting, and recycling.
Fiscally, the City of Vancouver continues to maintain its AAA credit rating and remains a national leader in economic growth.
For details on the 2017 Budget see: vancouver.ca/budget