Richmond approves proposed 2022 Operating and Capital Budgets

07 December 2021

Council has approved a proposed operating budget that will limit property taxes to a 3.86 per cent increase in 2022 while supporting new infrastructure and addressing RCMP wage obligations.

The tax change will see residents pay an additional $69 per residence (approximately 19 cents a day) based on the preliminary 2022 average residential assessed value of $1,172,079.

A cost driver for 2022 is an increase in RCMP wages imposed through a federal agreement. While the final cost is still being finalized, the preliminary estimate from the RCMP is an additional cost to Richmond of approximately $7 million. Council chose to limit that impact through a three year phase-in plan to reduce the immediate cost to taxpayers.

The proposed operating budget also includes funding for the operation of a developer-funded childcare facility and a number of capital infrastructure projects including the Steveston Museum and Richmond Curling Club.

Council also approved a capital budget of $107.8 million that includes $12.2 million for drainage and dike upgrades to enhance the City’s flood protection infrastructure. Other capital projects include several infrastructure improvements to the City’s cycling network, the Richmond Nature Park, South Arm Community Centre, Richmond Ice Centre and Watermania.

In accordance with the Community Charter, the City will undertake a process of public consultation on the proposed Consolidated 5 Year Financial Plan (2022-2026) via LetsTalkRichmond.ca, beginning mid-December.