July 21, 2006 - 7:57 am By: Treena Wood/The Province http://www.news1130.com/news/local/article.jsp?content=20060721_105700_4156Vancouver City Council wants people to stop worrying around budget time, so it's set a cap of 4% on next year's hike in property taxes. But it's not a guarantee. Councillor Peter Ladner, who chairs council's budget committee, says it's just a target. Property owners already face a 3.8% increase next year as long as the city doesn't go a penny over budget. And there is the chance TransLink or the GVRD will want extra funds. If the city does have to spend more money, programs and services will have to be cut.
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