Balancing Priorities: Vancouver's 2022 Budget Approves Largest Property Tax Increase in Over a Decade

The City of Vancouver has approved a budget for 2022 that includes a 10.3% property tax increase, the largest in over a decade. The tax hike aims to fund affordable housing, mental health services, public transportation, and COVID-19 recovery efforts. The increase will provide an additional $121 million in revenue to the city, but it has been criticized by some residents and business owners who argue that it will further burden struggling households and businesses. Mayor Kennedy Stewart defended the tax increase, stating that it was necessary to address the city's pressing needs and that the increase was kept as low as possible. 

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