City Budget

The City of Victoria is growing and changing.

With these changes come added pressures on City services and infrastructure. The City's budget looks to adapt to change and balance competing priorities while continuing to provide high-quality services our citizens have come to expect.

Council's Strategic Plan guides City priorities and identifies actions to achieve these over four years. The budget allocates funding for the priorities already set out by Council in the Strategic Plan.

 

2018 Financial Plan

Council has approved the 2018 Financial Plan.

The 2018 budget allocates resources to ongoing programs and services, as well as capital improvements such as replacing aging pipes and underground infrastructure. In addition, the budget also provides for some new ongoing and one-time services and initiatives, property tax reduction and investment in building and infrastructure reserves, vehicle and heavy equipment replacement, and a parks and greenways acquisition fund.   

With the allocation of new assessed revenue for a property tax reduction, the overall property tax increase is now 2.62%. Council has distributed this increase to residential at 4% and business at 1.11%. This will result in an average property tax increase of $94 for an average residential property assessed at $743,000 and an average of $75 for a typical business property assessed at $585,000.

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Budget Highlights

  • The 2018 operating budget totals $241.7 million and the capital budget totals $151.2 million.
  • Provides $250,000 in funding for the City’s Affordable Housing Reserve
  • Support for arts, culture and events with approximately $1.6 million including public art, festivals, special events, City of Victoria Butler Book Prize, Artist in Residence and Poet Laureate programs
  • Invests approximately $29.5 million in the City’s parks, recreation and facilities, including 137 parks, 207 hectares of parkland, 90 hectares of natural landscape, 40 playgrounds, 23 tennis courts, 12 dog off leash areas, 45 sports fields and 104 City facilities
  • Continued focus on public safety, with $54 million for police, $17 million for fire services, and $1.4 million in bylaw and licensing services
  • Increased capital investment of $250,000
  • Continued planning for the future of the Crystal Pool and Fitness Centre
  • Crosswalk installations or upgrades at six locations
  • Dallas Road Seawall rehabilitation
  • Wharf Street revitalization
  • Complete cycling network on Fort Street and Cook Street
  • Replaces aging pipes and underground infrastructure, including some of the City’s oldest pipes installed in 1891, to ensure clean water and environmental protection for the harbour and City natural areas
  • $5.3 million in continued funding for the Greater Victoria Public Library, including the new branch in James Bay
  • Advancing options for the Fire Department Headquarters
  • Ship Point Master Plan implementation
  • Development and ongoing management of a comprehensive real estate inventory, including completion of Apex Land competition, and review of commercial leasing rates to maximize revenue
  • Technology improvements including online application for business and dog licences
  • Implementation of Create Victoria, the City’s arts and culture master plan
  • Climate action initiatives to establish a long term greenhouse gas reduction target of 80% by 2050, including a corresponding specific target of 100% renewable energy
  • Continued renewal of emergency management planning, and coordinating emergency exercises for public safety
  • Funding for parking customer service improvements to provide users with a seamless entry and exit experience