2025-2029 Surrey Financial Plan

MAJOR REVENUE SOURCES

COMPARATIVE CHARGES ON A SINGLE FAMILY DWELLING Based on average assessment of the taxing authority

2024

Surrey

% Change

Langley Township

New Westminster

2024

2023

Burnaby Coquitlam Delta

Richmond Vancouver

Average Assessment

$ 2,079,173 1,771,416 $ $ 1,473,991 1,502,344 $ $ 1,615,972 2,020,469 $ $ 2,673,403 1,741,553 $ $ 1,736,132 0.3%

Levies for Other Authorities School

2,045

1,782

1,464

1,549

1,768

2,030

2,327

1,722

1,659

3.8%

635 116

541 100

558

459

493

617 112

816 147

532

439

21.2%

BCA, MFA and Other

82

84

94

96

88

9.1% 7.5% 6.2% 6.8% 7.9% 0.7% 5.8% 6.5%

MVRD

2,796 3,098 5,894

2,423 3,467 5,890

2,104 3,121 5,225

2,092 2,685 4,777

2,355 4,246 6,601

2,759 3,385 6,144

3,290 4,640 7,930

2,350 2,764 5,114

2,186 2,602 4,788

Total Levies for Other Authorities

General Municipal

Total Taxes User Rates

817 616

1,591

1,357

1,586

4,117

1,812

1,962

1,420

1,316

Total Res. User Fees

-

-

-

-

-

-

546

542

Parcel Taxes

Total User Rates

1,433 7,327

1,591 7,481

1,357 6,582

1,586 6,363

4,117

1,812 7,956

1,962 9,892

1,966 7,080

1,858 6,646

Total Taxes and User Rates

$

$

$

$

$

10,718

$

$

$

$

Source: City of Surrey Finance Department

2024 PROPERTY TAXES BY CLASS ASSESSMENT CODES Based on total taxes levied, including for other authorities, for the year 2024 ($1,077,909,478)

0.2%

Class 1 - Residential (62.1%)

28.5%

Class 2 - Utilities (2.8%)

Class 4 - Major Industry (0.5%)

Class 5 - Light Industry (5.9%)

0.5%

Class 6 - Business Other (28.5%)

62.1%

5.9%

Class 8 - Recreational Property, Non-profit Organization (0.2%)

2.8%

Source: City of Surrey Finance Department

City of Surrey | 2025—2029 Financial Plan | Financial Overview

92