Vancouver City Council is considering raising fees.

 

The cost of living in Vancouver is rising. Aside from high rental rates, costs in the food and vehicle markets are also rising rapidly. Fees for everything from parking permits to ride-hailing services are about to rise. According to reports, the council is mulling increased fee rates. According to city employees, the rate increase will assist in relieving pressure on property taxes. This year, homeowners have seen their property taxes rise by roughly 11%. 

According to the Finance Director's report, higher charge rates are recommended. The ideas include roughly doubling the number of business licenses. The cost of a short-term rental license is expected to double from $110 to $450 each year. Increases are also suggested for residential parking permits, pet licenses, and ride-hailing costs. The higher fees are expected to generate $15.2 million in annual revenue for the city, according to city officials.

The report will be presented to the council on Wednesday. If the report is approved, the rate increase will go into effect in January.