TransLink parking tax across Metro Vancouver to see increase | Daily Hive

SkyTrain Expo Line and Central City shopping mall in Surrey. (Josef Hanus/Shutterstock)

The Government of British Columbia is providing TransLink with additional revenue through an increase to the taxable rate of the public transit authority’s existing parking tax imposed across Metro Vancouver.

Amended provincial legislation that governs TransLink will enable the public transit authority to increase its parking from the existing rate of 24 per cent to a new rate of 29 per cent — an increase of five per cent.

The new maximum tax rate that can be levied by TransLink will be effective on royal assets, according to the 2025 B.C. Budget, which was released today.

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There will be exemptions for metered street parking, a resident’s primary parking space, and parking sites purchased for 28 consecutive days or more to park a vehicle used solely for business purposes, according to the budget.

The provincial budget’s rationale for endorsing the increase is that the increased parking tax revenue will be “used to fund road and transit operations within the region.”

TransLink’s current parking tax scheme includes parking rights sold by hour, month, year, or any other basis, and through ticket vending machines.

The existing tax rate of 24% is applied on the purchase price of parking before the 5% GST is applied.

The last time TransLink’s parking tax rate increased was on July 1, 2019, when the rate went up from 21% to 24% to support new and improved services.

Based on TransLink’s 2025 operating budget, approved by the public transit authority’s board of directors in December 2024, TransLink expects parking tax revenues of $94.9 million in 2025 — up from the forecast of $88 million in 2024, and the actual collection of $83.8 million in 2023.

The parking tax is TransLink’s fourth largest operating revenue source, following $549.7 million from property taxes, $718.5 million from overall fares, and $366.5 million from the gas tax, based on the 2025 budget.

While legislation is being amended to increase TransLink’s parking tax revenues, the provincial government’s budget does not provide any new additional operating subsidies to the public transit authority.

TransLink has warned that if its $600-million annual budget shortfall beginning in 2026 is not filled, it could be forced to perform drastic cuts to public transit service levels across Metro Vancouver as early as late 2025.

Following today’s budget speech, upon inquiry, TransLink indicated it remains hopeful that a deal with the provincial government can be hammered out through ongoing discussions.

“Investments in transit can be made outside of the annual budget process. TransLink and the Mayors’ Council remain in conversation with the Province on our 2025 Investment Plan and a solution to our ongoing funding gap,” a TransLink spokesperson told Daily Hive Urbanized.

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