Vancouver City Council has approved the city’s $1.5-billion operating budget for 2019.
This means property taxes for Vancouver residents will officially go up 4.5 per cent next year.
However, that’s down from the original 4.9 per cent proposed in the draft budget.
In a release, the city says it was able to reduce it by grabbing funds out of the Innovation Fund and the Council Contingency.
The approved property tax increase is comprised of:
The $317 million Vancouver Police Board and $54 million Vancouver Public Library budgets were approved.
So was $365 million for new projects in 2019.
This marks Kennedy Stewart’s first city budget as mayor.
© 2018 Global News, a division of Corus Entertainment Inc.