TransLink looking at property tax increases
Posted Nov 9, 2010 06:39:12 PM.
This article is more than 5 years old.
LOWER MAINLAND (NEWS1130) – Option ‘A’ could lead to a $36-a-year increase in property taxes for the average Lower Mainland household. Option ‘B’ could see a hike almost twice as large.
TransLink is again looking for new sources of revenue to fund its costly expansion plans, which include the Evergreen Line and the North Fraser Perimeter Road. The more ambitious option also includes a significant expansion of bus service.
“There is something like 425,000 hours of expanded service, and 50 per cent of that is south of the Fraser,” says TransLink chair Dale Parker, who explains the financial picture is strong enough to fund their portion of the Evergreen Line and other projects through 2011. But a property tax increase will be needed in 2012 unless another source of revenue is found.
The Council of Mayors will vote on the plans in December.
