Well, we’ve talked about increases to one of our funding sources this year — now here’s the announcement about another of them.

As we do every year, TransLink has released its new property tax rates, which take effect April 1. (Here’s the 2009 announcement, for reference.)

Homeowners will see a very small increase — an average of $3.58 in their portion of property taxes funding regional transportation, and property tax on businesses will be virtually unchanged from 2009. (In specific, homeowners will see a 1.62% increase, and businesses 0.02%.)

And again, the reason we are increasing fares and these property taxes is to pay for the expanded service we have put in place since 2004. They are both part of the 2010 10-Year Transportation Plan, which we consulted on last year.

Have a look at our press release for more info.