Metro Vancouver provides services that are key to the prosperity, resilience, equity, and livability of the region through four legal entities: Metro Vancouver Regional District (MVRD), Greater Vancouver Water District (GVWD), Greater Vancouver Sewerage and Drainage District (GVS&DD), and Metro Vancouver Housing Corporation (MVHC).
The majority of Metro Vancouver’s operating and capital budgets are financed primarily through utility fees for our core services: drinking water supply, sewerage, and solid waste management.
Property taxes account for a small portion of the Metro Vancouver budget and support the regional parks system, as well as other services including air quality management and regional planning activities.
Metro Vancouver Housing Corporation is a non-profit organization owned by the Metro Vancouver Regional District. Ongoing operations of Metro Vancouver’s housing is financed almost entirely through rents paid by tenants. Investment in new affordable housing over the next 10 years comes from Metro Vancouver in conjunction with various affordable housing funding bodies.
About the budgeting process
Budgeting schedule
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January-February - Financial Plan Task Force
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Spring - Board Budget Workshop on the financial plan and recommendations from Financial Plan Task Force
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Spring-Summer - Metro Vancouver reviews long-term plans, including need to upgrade assets or build new infrastructure, and engages with member jurisdictions for alignment on their own capital work
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Fall - Board Budget Workshop with opportunity for public input on budget
- October - Metro Vancouver Board of Directors considers the next year’s budget and five-year financial plan and approves as appropriate
2024 Budget and Financial Plan
The 2024 - 2028 Metro Vancouver Financial Plan has been prepared following direction received at the April 19, 2023 Metro Vancouver Board Budget Workshop. The direction followed the recommendations of the Financial Plan Task Force, which included the following household impact targets: 12.0% for 2024, 11.0% for 2025, 5.0% for 2026 and 5.0% for 2027 as well as direction to move Liquid Waste Development Cost Charges (DCCs) and Water DCCs to a 1% assist factor and implement a new Regional Parks DCC and move it to a 1% assist factor over the financial plan. This has resulted in a plan that maintains the goals and objectives of Metro Vancouver while minimizing the impact on ratepayers through realistic evaluation of the capital program and focussing on the development of growth revenue.
2024 budget at-a-glance
- Average household impact is $698 for all regional services, a $75 increase over the prior year (previously projected to be $711 for 2024)
- 12.0% household impact increase compared to 14.2% previously projected for 2024
- Total operating budget is $1.21 billion
Documents and reports