Today, June 28, was the last paycheque of the month for many Tri-City residents.
And those with homes and businesses now have the Canada Day long weekend to pay their property tax bills that are owing to the municipality, by midnight Tuesday, July 2.
Property tax rates, of which the notices were mailed out last month, are up sharply across the region, with Port Coquitlam’s percentage uptick being the lowest in the Tri-Cities.
In neighbouring Coquitlam, however, residents are facing the city’s biggest tax jump in its history at 8.92 per cent, or $210 more over 2023 — with 7.7 per cent accounting for municipal inflationary factors.
Here’s the breakdown locally:
- Anmore = 8.19 per cent
- Belcarra = 10 per cent
- Coquitlam = 8.92 per cent
- Port Coquitlam = 5.58 per cent
- Port Moody = 6.92 per cent
By comparison with other Metro Vancouver communities, the 2024 rate jump is:
- Pitt Meadows = 7.79 per cent
- New Westminster = 7.7 per cent
- Vancouver = 7.5 per cent
- Surrey = 7 per cent
- Maple Ridge = 6.5 per cent
- Burnaby = 4.5 per cent
How property taxes work
If the value of your home — as of July 1, 2023 — was determined by BC Assessment to be lower than the average rise in your community then your property tax rate will be less than the set tax rate increase in your municipality (in Coquitlam, the 2024 assessed value for residential homes went up by 2.7 per cent).
On the other hand, if your property valuation is higher than the average increase in your municipality, your property tax impact will be more than the tax percentage boost.
Across the board, among this year’s cost drivers are more police, capital projects, recreation and cultural services, inflationary pressures, rising cost charges related to Metro Vancouver water and sewage treatment, collective agreements and asset replacement.
Specifically, Coquitlam city council budgeted last December for:
- 10 more firefighters (over two years)
- nine more RCMP officers (over two years)
- two more bylaw inspectors
- additional staff to support housing affordability and supply
- increased funding for the city’s cultural partners (Coquitlam Public Library, Evergreen Cultural Centre, Place des Arts and Coquitlam Heritage Society)
As well, new responsibilities to adjust to the provincial government’s housing legislation are currently delaying — or even deferring — municipal services.
Payment time
Property taxes are due on Tuesday, July 2, 2024, and cover the period of Jan. 1 to Dec. 31, 2024.
Bills can be paid online, by telephone, at your financial institution, or at the municipal hall on July 2. Credit cards are accepted with a fee.
A five per cent penalty will be applied after the deadline and another five per cent will be added in September (in Belcarra, the fine is 10 per cent after July 2).
Click on the hyperlink to take you to the municipal payment site:
Don’t forget to apply online to the provincial government for the Home Owner Grant, which cuts taxes for primary residences. You can call 1-888-355-2700 for more information.
