City Budget

Each year, the City of Victoria establishes funding priorities through its annual budget. The City's Financial Plan (budget) is essential for providing high-quality services our residents have come to expect.

City Council sets service levels and allocates funding for all City services, programs, projects and initiatives informed by community input on priorities for investment. 

2024-2028 Draft Financial Plan 

UPDATE: At a public meeting on Thursday, April 25, 2024, Council adopted the Five-Year Financial Plan Bylaw 2024 and the Tax Rate Bylaw. The tax increase for 2024 is 7.93 per cent. 

Background: 

• On Monday, November 27, 2023 the 2024-2028 Draft Financial Plan was presented to City Council at a Special Committee of the Whole Meeting for consideration, including a public engagement summary report (item D.1 on the Agenda.) 
• Budget deliberations continued at a Special Committee of the Whole Meeting on Monday, January 15, 2024 at 9 a.m. and was live-streamed and archived. 
• The Victoria and Esquimalt Police Board presented its 2024 Provisional Budget to City Council at a Committee of the Whole Meeting on Thursday, January 25 at 1 p.m. 
• Budget deliberations were completed at the Special Committee of the Whole Meeting on Monday, January 29.
• Council adopted these Motions at the Daytime Council Meeting on February 8 and directed staff to bring forward the 2024-2028 Financial Plan Bylaw, incorporating any changes directed by Council to an April meeting for final adoption before May 15. A tax increase of 7.93 per cent for 2024 was adopted at the Special Committee of the Whole Meeting on January 29, 2024. 

Learn about the public engagement that took place in fall 2023 to help inform the 2024 Draft Budget and Council's decision making.