The Port of Vancouver’s Board of Commissioners on Tuesday unanimously approved a $76.9 million budget for the 2016 fiscal year that calls for spending on major projects including the West Vancouver Freight Access improvements, Terminal 1 research and preliminary development, and facilities aimed at attracting new industrial tenants.
The port will draw nearly $10 million in revenue from a property tax levy that has remained at the same level since 2012. Due to increased property values, the millage rate will drop from 36 cents per $1,000 assessed property value to 34 cents per $1,000 assessed value.
