Each year, the City of Victoria establishes funding priorities through its annual budget. The City's Financial Plan (budget) is essential for providing high-quality services our residents and businesses have come to expect.
City Council sets service levels and allocates funding for all City services, programs, projects and initiatives. Council budget decisions are informed by community input on priorities for investment.
2025-2029 Draft Financial Plan
The City's 2025-2029 Draft Financial Plan is now available. The 2025 Draft Budget proposes to invest $365.6 million in operating costs and $94.6 million in capital improvements to deliver over 200 services and programs on which the community depends.
The Draft Financial Plan and a public engagement summary of public input to date was presented to Council at the October 24, 2024 Committee of the Whole Meeting to help inform Council's 2025 budget decisions.
Budget Deliberations
At the December 12, 2024 Committee of the Whole Meeting, Council received a staff report (Agenda Item J.1) that outlines property tax increase reduction scenarios for consideration. View the presentation.
At the February 13, 2025 Committee of the Whole Meeting, Council directed staff to report back on February 27 on the impact of the Crystal Pool Referendum decision on the budget options presented in the December 4, 2024 staff report “2025-2029 Draft Financial Plan – Tax Increase Reduction Options.”
At the February 27, 2025 Committee of the Whole Meeting, Council set the City's portion of the 2025 property tax increase at 4%. The 2025-2029 Draft Financial Plan was referred to the March 3, 2025 Special Committee of the Whole Meeting.
Have Your Say
The community was invited to provide input on the 2025 Draft Budget in writing by email, mail or drop-off at the Ambassador desk at City Hall or by uploading a pre-recorded video up to five minutes in length by 11:59 p.m. on Friday, December 20, 2024.
The public input received was presented to Council at the February 6, 2025 Committee of the Whole Meeting for consideration (see Item E.2).
Previous Budget Documents
Five years’ worth of previous budget documents are available below.