Media Release - West Vancouver Adopts a Zero Per Cent Property Tax Increase for 2012
Thursday, April 05, 2012
West Vancouver, BC: - West Vancouver's Council has adopted a zero per cent tax rate increase for 2012. Mayor Michael Smith says, “This Council is setting a clear direction for the future, one that focuses on efficiencies and the District's financial sustainability during challenging economic times. I have confidence that staff can continue to provide excellent service to our citizens while examining all alternatives for controlling costs.”
In order to achieve a zero per cent tax rate increase, staff cut capital and other projects. Certain projects will now be funded from the surplus that the District is projecting for the fiscal year 2011. This surplus is primarily the result of higher-than-anticipated revenues for building and other permits in 2011. The budget is guided by the community’s Vision and Mission and the Balanced Scorecard.
A zero per cent increase is based on a 15.54 per cent average increase to assessed property values across the District, which means that properties with an assessed value increase of less than the average will show a lower property tax than last year, and those who experienced a greater than average assessed value increase will pay correspondingly more than last year. The assessed value increases also determine any increases from other taxing authorities. Tax statements are anticipated to be mailed in late May and are due July 3, 2012.
For residents, it is important to note that the District collects levies on behalf of other taxing agencies, including the School District, TransLink and Metro Vancouver, and has no ability to influence those rates.
To learn more about the revised budget please visit westvancouver.ca/budget
About the District of West Vancouver
The District of West Vancouver is the local government led by Mayor Michael Smith and Council. Home to more than 44,000 residents, West Vancouver is a local government which strives to "inspire excellence and lead by example". Our Vision and Mission guide us to pursue our treasured quality of life and will be the measure of our success as a community. West Vancouver is a community built on innovation, a strong spirit of personal civic commitment and a deep value for relationships.
Media Contact
Jessica Delaney Director of Communications
c: 604-360-8131 | d: 604-925-4736 | e: jdelaney@westvancouver.ca