City of Langley Approves Budget with 11.56% Tax Increase, Investments in Infrastructure and SkyTrain preparations
City of Langley Approves Budget with 11.56% Tax Increase, Investments in Infrastructure and SkyTrain preparations
Last night, the City of Langley city council voted to approve its 2023 budget and financial plan, which outlines the spending, taxing, capital priorities over the coming year.
The budget includes investments in several priorities which came out of the recent election including programming and staff around public safety and homelessness, as well as preparing for the arrival of SkyTrain and investing in key infrastructure.
The budget requires an 11.56% average increase to property taxes.
For the average business property, they would see an increase of 11.92%, while the average light industrial property would see an increase of 11.98% -- but these increases could be higher or lower depending on a property's increase in value against the average.
The Langley Chamber reviewed the proposed budget, and provided input on budget priorities and we voiced concern with the cumulative tax burden placed on Langley businesses. We encouraged City Council to spread the increase out over more years so it was not front-loaded, and we suggested at least some revenue destined for capital expenses could be redirected to lower the required tax increase.