Could vehicle levies be on the way to help fund Metro Vancouver transit?

That’s the leading possibility, after the B.C. government revealed Thursday it is preparing to create a totally new funding source for TransLink by 2027 to help provide a stable flow of cash to avoid service reductions.

The surprise news was buried inside an announcement that the province was providing $312 million over the next three years to help avoid massive cuts to bus, SkyTrain and SeaBus service, which were matched by TransLink raising property taxes, parking taxes and various fares.

“In addition, the province has committed, subject to approval of the legislature, to enable additional revenue source(s) in 2027,” read TransLink’s report.

“If passed, the new source(s) is intended to begin in 2027 with full implementation in 2028 generating at least $112 million per year in new revenue when fully implemented.”

There have been three major new transit funding sources floated by mayors in the past decade — two of which are officially off the table.

Mayors have for years wanted a slice of the $3-billion carbon tax to be dedicated to TransLink. But the NDP government eliminated that tax this........

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