In 2024, Metro Vancouver property owners will face an increased TransLink portion of their property tax bill, alongside forthcoming fare hikes. TransLink justifies this one-year tax rise as a stopgap measure to fund urgent service expansions, aimed at alleviating overcrowding and bus pass-ups. The increase, averaging $37 for the median residential property, amounts to approximately 1% of the total average property tax bill.
Although representing a small fraction of overall property tax, it constitutes TransLink’s second-largest revenue source after public transit fares. The increased tax and fare revenues aim to support urgent service expansions, including improved frequencies, new routes, and enhanced reliability, starting September 2024. Subsequent years will see higher fare hikes to aid in service expansion until potential additional funding from provincial and federal governments arrives.
