Meet the new budget, same as the old budget.
District of North Vancouver property owners can expect a familiar three per cent increase in their taxes in 2021 if council follows through on their proposed budget.
Council and the public got their first look at the next year’s financial plan on Monday night.
Since 2004, the district has largely followed the same budget template – a two per cent tax increase to cover inflation in operating costs and an extra one per cent levy to ensure there is money to replace or repair aging infrastructure.
For the average district homeowner, it will add an extra $71 onto the municipal portion of their tax bill compared to the year before, according to district finance staff.
In 2020, council briefly varied from that formula in light of potential economic impacts from COVID-19, opting for just two per cent. The City of North Vancouver and District of West Vancouver also pivoted to smaller budgets in light of the pandemic.
Mayor Mike Little stressed that residents who want to help shape the 2021 budget should get involved soon, rather than wait until just before it goes to council for adoption. [District residents have until Feb. 22 to provide input using the submission form on the district's website.]
The district is spending the next two weeks collecting public feedback on the budget before it goes to council for its first vote in March. Once council arrives at an overall tax increase needed for the district’s operating and capital needs, they will vote in April on how to divvy up the total bill between the different tax classes – residential, commercial, light and heavy industrial etc.
