TransLink announces property tax, fare increases to fund system for next 3 years

TransLink and the B.C. government have announced a combination of tax increases, fare increases and new funding that will end the systemic deficit that has plagued Metro Vancouver's transit authority since the pandemic — at least for the next three years.

News releases issued by the government and TransLink outlined the details, which will have to be approved by the Mayors' Council and TransLink board on April 30. 

The agreement includes:

• A 0.5 per cent property tax increase across Metro Vancouver, adding approximately $20 to the median household;
• A 5 per cent increase in transit fares beginning in July 2026;
• A $1.50 increase in the YVR AddFare for trips from Vancouver International Airport beginning in July 2026;
• An increase in off-street parking taxes from 24 per cent to 29 per cent;
• $312 million in operating income from the provincial government over the next three years.

According to TransLink, the deal will keep them fiscally sustainable until the end of 2027. It will also allow them to increase service on up to 50 bus routes, add 40 new or additional routes, and extend the North Short RapidBus to Metrotown by 2027. 

WATCH | What to know about the new agreement: 

TransLink announces property tax, fare increases to fund system for next 3 years

5 days ago

Duration 1:51

The fiscal crisis at TransLink has been resolved — at least for a few years. The transit authority and B.C. government announced a series of funding measures, after years of worries that massive cuts were coming. Justin McElroy reports.

In a release, both the government and TransLink applauded the deal, ending years of sometimes contentious negotiations over creating a new business model to mitigate the effects of decreased post-pandemic ridership after decreased revenue from gas taxes.

"This proposed plan allows us to get back to what we do best, which is delivering transit services that Metro Vancouver residents want and expect," said TransLink CEO Kevin Quinn in a statement. 

"We appreciate the investments from our government partners which will help us to expand transit services to set up the region for growth and long-term prosperity."

Transportation Minister Mike Farnworth said "we know TransLink was facing a significant deficit as costs and demand for service increased, and had warned of drastic cuts to services." 

"Our government is committed to protecting services for the people of B.C."

The agreement follows the federal government pledging more than $1.5 billion over 10 years for TransLink in March.

Denis Agar, executive director of transit advocacy group Movement, said he believes Thursday's announcement isn't "the end of the conversation."

"This is kind of a Band-Aid, this gets us a little bit of the way to a permanent solution," Agar said. 

"I think we can get a plan in 2026 that provides a permanent funding solution and that does so in a way that makes transit good in this region, that adds enough buses and trains that we don't have to worry about overcrowding anymore."