Langley City Council heard from residents during the election campaign about a number of on-going concerns in the community. To that end, City Council has assembled the 2023 Financial Plan to make a significant effort in four key areas of concentration.
Preparing for SkyTrain – The City will again look ahead at new opportunities the SkyTrain will bring, as outlined in the Langley City: Nexus of Community Plan which was temporarily paused during the COVID-19 pandemic. The City will borrow $15 million to purchase strategic property and fund SkyTrain-related improvements to maximize this once-in-a-generation opportunity for residents and businesses.
Investing in the Basics – Additional property taxation and utility fees will help fund much needed replacement of worn roads and end-of-life watermains and sewer lines. For example, $18.2 million is needed to replace some of the oldest water, sewage, and drainage pipes in the City under the Fraser Highway one-way section between 204 St. and 206 St. Additional benefits of the project will include improved streetscape, underground hydro lines, and greening of the downtown with replanted boulevard trees.
Enhancing Public Safety – A Citizen’s Assembly on Community Safety Reform will be established which will engage representatives of the public to collaborate with experts from community organizations and emergency services across the region to put forward solutions to rebuild trust and confidence in the safety of our community. The City will hire firefighters and public safety personnel to keep pace with the growth of the community.
Addressing Poverty, Health & Homelessness – Social issues relating to mental health, addictions, and homelessness are top of mind in the community. The City will host a series of collaborative dialogues that focus on these critical community issues synthesizing local initiatives that are currently underway and implementing best practices to address social issues and build community resiliency and well being. We have added staff to help carry out this ongoing advocacy to ensure meaningful action occurs.
The City will also invest in urban forest maintenance, recreational programming for children and aquatics, other service level increments, and additional funds to maintain current service levels while keeping up with inflation.
The 2023 Financial Plan currently has a gap of $3,863,160 between total revenues and planned expenditures which equates to an 11.56% increase in property taxes to balance the budget.
In 2023, the five year financial plan includes $65 million in on-going operating expenditures and a further $47 million in one time capital expenditures. Approximately 75% of the operating expenditures are funded through property taxes and utility charges billed at the end of May each year.
The Province only allows municipalities to have one tax rate for all residential class properties. The assessed value of single family homes increased 16% whereas multi-family homes have increased more at 19%. When the overall tax rate increase of 11.56% is applied, it has a bigger impact on multi-family homes.
View the 2023-2027 Financial Plan
View the 2023 - 2027 Statutory Ad
View the Financial Open House