TransLink's board of directors has voted to approve a significant increase in property taxes for this year, with the goal of collecting an additional $727 million in revenue. This decision comes alongside planned fare increases set to take effect on July 1, as the transit authority seeks to address financial challenges and ensure long-term stability.
Property Tax Increases Approved
The tax hikes were discussed and approved during TransLink's quarterly board of directors meeting. For the average residential property, the increase amounts to approximately 7.5 percent, translating to about $35 more than last year's payments.
The property tax increase is expected to generate about $709 million in revenue for TransLink, representing a 6.7 percent increase over last year's collections from this source. Additionally, a similar increase in the replacement tax—levied on various non-residential properties such as utility facilities—will produce approximately $18 million.
Combined, these two tax measures are projected to total $727 million in revenue for the transit authority.
Fare Increases Set for July 1
During the same meeting, the board reviewed and approved upcoming fare increases scheduled to begin on July 1. These adjustments are part of TransLink's 10-year plan, implemented following the expiration of a provincial agreement that had capped fare increases at 2.3 percent from 2020 to 2024 during the pandemic.
In 2025, the board approved a four percent fare increase. This year, they have authorized a five percent increase, with specific adjustments varying by fare type:
Adult Single-Trip Fares
- 1-zone tickets will increase to $3.50 from $3.35 (a 4.48 percent increase)
- 2-zone tickets will increase to $5.10 from $4.85 (a 5.15 percent increase)
- 3-zone tickets will increase to $6.70 from $6.60 (a 1.52 percent increase)
Child and Senior Single-Trip Fares
- 1-zone tickets will increase to $2.30 from $2.25 (a 2.22 percent increase)
- 2-zone tickets will increase to $3.40 from $3.30 (a 3.03 percent increase)
- 3-zone tickets will increase to $4.60 from $4.50 (a 2.22 percent increase)
YVR Surcharge Adjustment
Transit users departing from Vancouver International Airport on the Canada Line will also face increased costs. The board approved a 30 percent increase to the YVR surcharge this year, raising the cost from $5 to $6.50. Future annual increases of two percent are expected in subsequent years.
The YVR surcharge was originally implemented to cover TransLink's share of the capital cost for the Canada Line extension to the airport and had remained unchanged since its introduction in 2010.
Financial Context and Future Outlook
In 2025, TransLink operated with a budget of approximately $2.5 billion. The transit authority had previously raised concerns about an anticipated $600-million annual deficit beginning this year, following the depletion of pandemic-era emergency funding from provincial and federal governments.
The B.C. NDP government subsequently agreed to a $312 million bailout, ensuring TransLink remains fully funded through the end of 2027. However, additional revenue sources are still necessary to secure the transit service's stability beyond that timeframe.
These tax and fare increases represent strategic measures to address immediate financial needs while planning for sustainable operations in the coming years.
