Surrey might reduce property tax hike, but only if RCMP remains, mayor says
Surrey city council is considering a reduction of a proposed whopping property tax rate hike by using recently announced funding from the provincial government.
At a finance committee meeting on Monday, council voted to send a five-year budget proposal back to staff to revise a pending tax hike from 17.5 per cent to no more than 12.5 per cent.
The tax-hike reduction would be made possible by $89.9 million coming to Surrey as part of the B.C. government’s “growing communities” fund, which is designed to help with infrastructure and other costs in the fast-growing municipality.
“Since the proposed budget was made public two weeks ago, the city has secured nearly $90 million from the province of British Columbia,” said Surrey Mayor Brenda Locke.
“As a result, we are now in a position to revise the budget and bring the overall property tax rate down.”
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