One city councillor tried to stop this year’s 3.99 per cent tax increase but failed twice.
Burnaby has released a draft of its financial plan for the next five years, and it includes a 3.99 per cent property tax increase.
This year’s increase is equivalent to a $74 increase for the average residential property . Next year’s increase will be 7 per cent. The capital plan is $291.4 million, allocated to major civic projects, including the Burnaby Lake Aquatic and Arena, the replacement of Fire Station 4, the construction of the new Fire Station 8 on Burnaby Mountain and development of non-market housing sites, according to the staff report.From 2024 to 2027, the city plans to increase property taxes by about 7 per cent per year, to account for “the operations of new or expanded facilities.”Councillor unsuccessful at stopping the hike Coun.
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