December 14 2024

Mid-Term Progress Report: Lowering taxes and delivering results

City Council approves lowered tax rate hike

After a year of dedicated effort Mayor Ken Sim and City Council in collaboration with City staff have successfully reduced the property tax hike to 3.9%. This rate combines a 2.9% rate increase with 1% dedicated to capital infrastructure. It is among the lowest projected increases across Metro Vancouver municipalities for 2025. The number went down notwithstanding major cost pressures that are unique to our core city, and resulted in no loss of the services, and no impact on City staffing.

This big drop in the tax rate hike follows a staff recommendation last spring of over 7%, and direction by Mayor Sim and Council to top out at no higher than 5.5%. After a challenging period of high inflation and depleted service levels, our Council is committed to help make life more affordable in Vancouver while ensuring the services they depend upon remain in place.

Vancouver’s Strategic Framework

Beneath the numbers, however, another story is emerging. It’s about the transformative work happening around housing, economic development, public safety, infrastructure, climate action, support for seniors and indigenous reconciliation – all since taking office 2 years ago.

This work is driven by City of Vancouver’s first-ever strategic framework, titled Vibrant Vancouver: City Council’s Strategic Priorities 2023–2026. This comprehensive roadmap is driving progress across nine priority areas, delivering tangible benefits for residents, businesses, and the environment.

A vibrant city for all

At the heart of Vancouver’s transformation is a commitment to building a vibrant and thriving community.

Over the past year, the city hosted 27 major events, generating over $100 million in economic impact, and is already preparing for marquee events such as the 2025 Invictus Games, the Web Summit, and the 2026 FIFA World Cup. Public spaces have also been revitalized, with investments in upgrading five plazas, expanding bike and e-scooter programs, and launching an innovative pedestrianization project in Gastown.

Public art plays an important role in creating a vibrant city. It’s why I brought forward a motion to look at relocating the iconic EAST VAN Cross by artist Ken Lum. With the motion now passed by Council, we can expect a response from staff in fall 2025.

Continue reading below…

More results at mid-term

In Chinatown, an annual investment of over $2 million has led to visible improvements in safety, cleanliness, and community engagement, underscoring the city’s dedication to preserving its cultural heritage.

More work is happening throughout our historic neighbourhoods. The Gastown pedestrianization pilot led to an updated vision to transform the area and make it safer and more vibrant for residents, visitors and business operators. The Granville Entertainment District (GED) is undergoing a significant public planning process, and changes are already happening with the opening of the Rec Room, a mixed-media entertainment venue.

More housing faster

Building more housing faster is a top priority for City Council, and the results are encouraging. Housing starts have doubled since 2022, thanks in part to simplified multiplex zoning that has already created over 1,000 new homes, with thousands more on the horizon. The Broadway Plan has unlocked a pipeline of 20,000 additional units, demonstrating the city’s commitment to addressing the housing shortage. On the homelessness front, outreach teams have supported 4,400 individuals annually, while 1,800 new shelter spaces have been added since 2023. Efforts to streamline the permit process through our 3-3-3-1 initiative have also paid dividends, with simple renovation permits now processed in just three days, facilitating faster development across the city.

Business-friendly city

For entrepreneurs, Vancouver has become a more welcoming environment. The time to process business license applications has been slashed by 85 percent, with most licenses now issued within a week. Policy reforms, including $6 million in annual property tax relief, and streamlined processes for liquor licensing and industrial land use, are helping businesses thrive. Infrastructure improvements, such as a 75 percent reduction in utility connection wait times, further support economic growth by accelerating construction and occupancy timelines. Council approved the opening of a new Business and Economy Office, which undertook operations in the fall. The work of this office is already showing great promise toward making our City more business-friendly.

Prioritizing public safety

Vancouver is also prioritizing public safety, creating a more secure and resilient city. Violent crime has decreased by 7 percent, aided by innovative measures like restricting bear spray sales and establishing Canada’s first Indigenous mental health crisis response team. Investments in fire safety have reduced risks in vulnerable housing, while the city has used a compassionate approach to resolve two major encampments. Proactive measures, including heat response plans and youth violence prevention programs funded through federal grants, highlight Vancouver’s focus on protecting its most vulnerable populations.

Action on climate change

Sustainability and infrastructure development remain central to Vancouver’s vision. Climate-friendly initiatives, such as eliminating parking minimums, expanding electric vehicle infrastructure, and decarbonizing municipal utilities, are reducing emissions and creating a greener future. The city has also made significant progress in rainwater management, diverting water through green infrastructure projects and reducing system costs. An accelerated capital delivery program has increased the city’s budget by 87 percent since 2022, ensuring vital projects are completed at a faster pace to meet the needs of a growing population.

An inclusive and accessible city

Inclusivity and reconciliation are integral to Vancouver’s identity. Investments totaling $73 million in social and cultural programs, along with improved accessibility through 280 new curb ramps, demonstrate the city’s commitment to equity. Vancouver is also a national leader in reconciliation, implementing a five-year action plan under the UN Declaration on the Rights of Indigenous Peoples (UNDRIP) and supporting Indigenous-led developments like the Sen̓áḵw project.

With the support of Council, my motions to take proactive steps to make Vancouver a designated age-friendly city have resulted in the hiring of a new strategic lead for older persons. This is among other work supporting seniors in our city. I’m proud to serve as liaison of our Older Persons and Elders Advisory Committee, and have worked with seniors groups to address their needs.

A better city government

Behind the scenes, Vancouver is becoming a model of operational and financial efficiency. The city has maintained its AAA credit rating and generated $25 million in new non-tax revenue over the past two years. Leveraging technology, including AI-driven systems, has streamlined operations, resulting in significant cost savings and improved service delivery.

Vancouver’s mid-term progress paints a picture of a city that is thriving. With strategic investments, innovative policies, and a steadfast commitment to equity and sustainability, the city is well on its way to achieving its vision of becoming one of the world’s most vibrant, inclusive, and livable cities. As these initiatives continue to unfold, the future of Vancouver looks brighter than ever.