Page 3 - Budget Task Force News Today

Vancouver Mayor Ken Sim’s external advisors seeking efficiencies and new funding for the city’s budget is advising the city narrow its scope of work, consider divesting itself of “non-core” assets and get philanthropic, business, and non-profit help for municipal priorities.

According to Mayor Ken Sim's Budget Task Force, Vancouver faces two "urgent challenges." The first is a "staggering" $500-million annual infrastructure funding deficit.

Vancouver homeowners will pay an extra 7.5 per cent property tax next year. That's down from the 10.7 per cent hike last year, but still the second highest in the last decade.

While the budget didn't stray far from the draft brought forward by staff last month, there were a number of amendments put forward Tuesday that made slight adjustments to different departments — including the mayor's office. 

Vancouver's mayor could be setting the city on a path to greater centralization while working with a reduced scope based on current moves, political watchers say.

Vancouver's Mayor's Budget Task Force struck in April was charged with going through the city’s budget with a 'fine-toothed comb.' The report was due to be released in October.

Ken Sim defeated incumbent Kennedy Stewart on Oct. 16 last year. He was sworn in on Nov. 7, becoming Vancouver's first Chinese Canadian mayor and mayor from a racialized community.

After convening multiple times since January, the Budget Task Force brought forward their recommendations for improving the budget process.

BC Housing in hot water, ABC downsizing Empty Homes Tax, and a big ol' tower coming to town.

The task force comes after Ken Sim’s ABC Vancouver dominated city council approved a 10.7 per cent property tax increase in its 2023 budget.