City Board approved the 2026 budget: Additional investments in safety and summer jobs for young people – the city’s finances to be balanced through an economic programme
The City of Vantaa’s Board discussed the 2026 budget and the financial plan for 2026–2029 at its meeting on 4 November. The Board decided to propose that they be approved by the City Council. The City Council is expected to decide on the budget and financial plan on 17 November.
In addition, the Board decided to propose that the City Council confirm the income tax and property tax rates for 2026.
The downturn in Finland’s economy is also reflected in Vantaa’s finances, and the city’s economy will need to be balanced in the coming years. Vantaa will launch an economic programme aimed at bringing revenues and expenditures into balance by 2029 at the latest.
The need for fiscal adjustment is estimated at approximately EUR 60 million during this council term (2026–2029). In addition, expenditure growth is to be curbed by a total of EUR 30 million.
The city promotes employment and improves safety
During the first year of the economic programme, in 2026, the economy will be balanced by a total of EUR 17.8 million.
Despite the financial situation, the city will invest in vitality, promote job growth, improve safety, strengthen literacy in schools, and invest in innovation, digitalisation, and data-driven management.
The City Board approved an additional EUR 400,000 allocation to improve city safety.
Efforts to improve urban safety will take into account, among other things, the safety of station areas, public order supervision, youth work and security services, as well as cooperation with the Vantaa and Kerava wellbeing services county, other authorities, the third sector and commercial actors.
In addition, the Board increased funding for summer jobs for students and school pupils by EUR 40,000. The increase will be targeted particularly at 15–17-year-old young people in Vantaa who do not yet have prior work experience.
Tax rates remain unchanged
The City Board decided to propose that the City Council confirm the income tax and property tax rates for 2026. No changes were made to the proposed tax rates; they remain at the 2025 level.
The proposed income tax rate for 2026 is 6.4%, and the property tax rates are:
- general property tax: 1.28%
- general property tax on land: 1.30%
- permanent residential building: 0.41%
- other residential building: 1.25%
- power plant: 3.10%
- undeveloped building site: 6.00%
