It is budget season in Langley City, and Council will consider introducing our 2025 – 2029 Financial Plan tonight by giving it first and second reading. There will be two in-person opportunities to provide feedback on the budget; the first will be an open house on February 6th, and the second will be at the February 10th Council meeting. Council usually approves the budget in late February/March. I'll post about the budget over the next month or so. You can also stay current by visiting Langley City's 2025 Financial Plan webpage.
I believe that Langley City residents and businesses received good value for their money. It is always good to see how we compare to other municipalities. Of course, each municipality may offer different services and have different service standards based on the priorities and needs of each community. For example, New Westminster operates an electrical utility.
The following tables show the average 2024 municipally-controlled property tax values for attached and detached housing. Notably, about 80% of Langley City's housing is attached units.
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| Average 2024 Municipal Property Tax for Attached (Multi-Family) Housing. Select the table to enlarge. |
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| Average 2024 Municipal Property Tax for Detached Housing. Select the table to enlarge. |
The following table shows the debt load and debt per capita at the end of 2023. This year is the latest information available from the provincial government.
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| Metro Vancouver municipalities and their comparative debt levels as of December 31, 2023. |
Langley City has one of the lowest property tax rates in Metro Vancouver, well below the regional average. Langley City's debt load is in the middle of the road. Other municipalities in our sub-region carry higher per capita debt loads.
1 comment:
Mr. Pachal. For the last 2 years you have noted how Langley City has some of the lowest Property Taxes in the Lower Mainland as if it justifies the large Property tax increases we have seen as homeowners. Just because that may be the case. That doesn't mean that our incomes have increased to pay higher taxes. Our inflated property values don't translate to more money in our pockets.
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