Surrey Council Directs Staff to Revise Budget to Reduce Property Tax Increase

Surrey, B.C. – During a Finance Committee Meeting on Monday, Surrey Council voted to refer the proposed 2023-2027 General Operating and Capital Budget back to staff for revision. In light of the $89.9M announced for Surrey through the provincial Growing Communities Fund, Surrey Council has asked staff to work on reducing the overall proposed property tax increase from 17.5% to no more than 12.5%.

“Since the proposed budget was made public two weeks ago, the city has secured nearly $90M from the Province of British Columbia,” said Mayor Brenda Locke. “As a result, we are now in a position to revise the budget and bring the overall property tax rate down. The new funding from the province will go to capital improvements, such as the third sheet of ice in Cloverdale and in turn decrease the policing surcharge from the proposed 9.5% to 4.5%. The new lower rate, should it pass, will continue to keep Surrey in the bottom third of property taxes in the Metro region. It is important to note that the proposed 2023 budget is built on the unwinding of the Surrey Police Service and maintaining the RCMP as the police of jurisdiction in Surrey. Should the police transition be allowed to continue, the extra costs would not be covered in the proposed 2023 budget.”

Staff will present a revised budget to Surrey Council for consideration at the next Regular Council Meeting on April 3.