
Surrey to use new provincial fund to shave 5% from proposed 17.5% property tax hike
SURREY, B.C. — Councillors in Surrey, B.C., plan to use newly allotted provincial funding to reduce the city’s proposed 17.5 per cent property tax increase slated for the 2023 civic budget.
During a finance committee meeting on Monday, councillors voted to send the budget back to staff so an $89.9 million allotment from the province’s Growing Communities Fund could be applied to the bottom line.
A statement from the city says council has asked staff to use the money to cut the overall proposed property taxes from 17.5 per cent to no more than 12.5 per cent.
The revised budget is expected to be ready for review at council’s next meeting on April 6.