On December 22, 2021 the City of Surrey held a Special Regular Council meeting to pass the proposed 2022 Budget. The budget includes a five year financial plan that supports the city’s Surrey Invests Program and details the property tax rate for 2022. For the 4th consecutive year the City of Surrey tax rate increase was maintained at 2.9%.
In a press release Surrey mayor Doug McCallum states that the increase is, “one of the lowest in Metro Vancouver,” and that the Council “believe(s) it is important for our residents to not be presented with an unexpected tax burden. While we are holding the line on property taxes, Budget 2022 has also built in new projects that will benefit the people of Surrey.”
The lower property tax rate increase is one of the many reasons that the housing market in Surrey remains one of the hottest in the Lower Mainland. If you are interested in buying, selling or investing in Surrey, feel free to contact me.
To view the City of Surrey’s Budget
Source: The City of Surrey News Release Dec 22, 2021. www.surrey.ca