Richmond sets 5.86% tax increase to fund community investment, infrastructure, and safety.
RICHMOND, B.C. – The Richmond City Council has approved the operating and capital budgets for 2025, aiming to bolster investment in community assets, infrastructure, customer service, and safety. The operating budget will lead to a 5.86% tax increase, amounting to an extra $128 in municipal taxes, or approximately 35 cents daily, for an average residential property assessed at $1,306,478. The budget includes increased personnel for the Richmond RCMP and Fire-Rescue, a 1% boost for community infrastructure investment, and adjustments for collective agreements and increased costs from senior government levels.
The $152.6 million capital budget encompasses 78 projects, focusing 60% on upgrading vital infrastructure like dikes, pump stations, and generators. It also includes a pilot program for a public safety camera system and expanding Richmond’s electric vehicle charging network.
Annually, the Council ratifies three budgets for municipal spending: the operating budget for basic City services, the capital budget for infrastructure investment, and the utility budget covering water, sewer, flood protection, garbage, and recycling. These budgets form the proposed Consolidated 5-Year Financial Plan (2025-2029) Bylaw No. 10622.
Public consultation is scheduled for early January 2025 on LetsTalkRichmond.ca, in compliance with the Community Charter, to gather feedback before the bylaw’s final adoption by the Council. Reports on the budgets and the 5-Year Financial Plan can be viewed in the December 9, 2024, Council Meeting Agenda and Minutes at citycouncil.richmond.ca.
General Reporter