The City's annual budget looks to adapt to change and balance competing priorities, while continuing to provide high-quality services our residents have come to expect.
2022 City Budget
The City’s 2022 – 2026 Financial Plan focuses on keeping taxes low while making strategic financial decisions to maintain services and support residents and businesses in rebuilding, recovery and growth.
We have been able to adapt to constant change throughout the past two years, while maintaining a solid financial position and preparing the city for a changing climate and tackling the affordability crisis.
Council has adopted the 2022 Budget which invests $274.2 million in more than 200 core programs and services, and delivers on Council’s strategic plan. In addition, the budget invests $154 million in capital improvements to city infrastructure that people depend on.
We are committed to responsible fiscal management and building for the future, which is reflected in the allocation of approximately $51.1 million for reserves and capital investment, including transfers to the affordable housing reserve, building and infrastructure reserve, gas tax reserve and debt reduction.
Following Council’s deliberations and public consultation, the final operating budget resulted in an overall increase to property taxes of $5.7 million or 3.89% (1.94% for City operations, 1.87% for Police operations and 0.08% for Greater Victoria Public Library) which slightly exceeded Council’s target of inflation plus one percent.
An integral part of the financial planning process is budget outreach and consultation with the public. The engagement for the 2022 Budget was done virtually by surveys, emails, a Virtual Budget Town Hall and a virtual youth event. Thank you to all those who provided input to help guide Council’s decision making to deliver quality programs and services that meet community priorities.
A City at Work
This video highlights the many City services that the annual budget funds and the cross-collaboration among department teams that takes place.
What Your City Budget Means to You
Watch this video to see how your City budget benefits you and your family.