City Council approved the 2026 budget and financial plan for 2026–2029
The City Council of Vantaa approved the budget for 2026 and the financial plan for 2026–2029 at its meeting on 17 November following a vote. The 2026 municipal income tax rate and property tax rates were also decided, after a vote, to remain unchanged.
The City Council voted on whether to return the budget for further preparation. It was decided to continue the handling of the matter by a vote of 55–12. Five statements for the minutes and two dissenting opinions were submitted on the matter.
The downturn in Finland’s economy is also reflected in Vantaa’s finances, and in the coming years the city’s economy will need to be balanced. At the same time, vitality and services in the growing city will be safeguarded. Despite the economic situation, the city invests in vitality, promotes job growth, improves safety, invests in improving literacy in schools, and focuses on innovation, digitalisation and knowledge-based management.
Record-high unemployment, declining tax revenues, difficulties in the construction sector and the slow recovery of air traffic are placing a strain on Vantaa’s economy. To balance the economy, Vantaa will launch a four-year financial programme. The need for balancing 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. In the first year of the programme, 2026, the economy will be balanced by a total of EUR 17.8 million.
No changes to tax rates
No changes will be made to the 2026 income tax or property tax rates; they will remain at the 2025 level. The proposed income tax rate for 2026 is 6.4, and the property tax rates are:
- general property tax rate 1.28
- general property tax rate for land 1.30
- permanent residential buildings 0.41
- non-permanent residential buildings 1.25
- power plants 3.10
- undeveloped building site 6.00
