Over the past week, I’ve posted about Langley City’s proposed 2020-24 Financial Plan including:
- $111 million proposed to be invested over the next five years
- Significant projects in the proposed $19.4 million 2020 capital budget
- Proposed increases to enhance services
This year’s financial plan is the start of an ambition program to support the Nexus of Community vision. This vision is about creating a walkable, healthy community connected to the rest of the region by high-quality transit. Nexus of Community means we must invest into our community to make sure we have a diversity of housing options from affordable rentals to home ownership, high-quality public amenities such as a performing arts centre and renewed parks, and a thriving commercial sector to grow our status as a net importer of jobs and as a regional town centre.
This ambition program will be supported by a modest property tax increase.
Langley City had, on-average, the lowest residential property tax in Metro Vancouver in 2019.
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| 2019 Municipal Property Tax Levy Survey, Average Multi-Family Dwellings. Select image to enlarge. |
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| 2019 Municipal Property Tax Levy Survey, Average Single-Family Dwellings. Select image to enlarge. |
In 2020, Langley City taxes and utility rates will be increasing.
For single family homes, the on-average annual increase is proposed to be $179. This is a 5.65% increase compared to 2019.
For multi-family homes (apartments and townhouses), the on-average annual increase is proposed to be $86. This is a 5.52% increase compared to 2019.
Even with these proposed increases, Langley City will have one of the lowest, if not the lowest, on-average property taxes for residential property owners in Metro Vancouver.
Business property owners will see an on-average increase of 6.93%, and light industrial properties owners will see an on-average increase of 7.05%.
For more information about this year’s financial plan, please visit Langley City’s website.
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