Port Coquitlam residents could see a 2.37% property tax increase next year according to a draft financial plan that will be presented to council on Tuesday.
If the budget is approved, it would mean a $70.58 increase for the average household. It would also eliminate the $25 parcel tax that has been collected since 2017 to help fund the construction of the new Port Coquitlam Community Centre.
In a press release, Mayor Brad West said the city is focusing on “getting the basics right” and trying to balance the need for funding core municipal services with the financial impact the COVID-19 pandemic has had on residents. The increased revenue will go toward one-time expenditures associated with park maintenance, city cleanliness initiatives and snow removal, he added.
“The impact on our taxpayers is always top-of-mind for council and that’s never been more important than now due to the impacts of COVID,” West said. He added the budget “strikes the right balance and will help our community continue to thrive, while providing some of the modest service enhancements our residents have been asking for.”
The property tax increase comes a year after council slashed the rate to zero to help residents in the early days of the COVID-19 pandemic.
Reporting out on 2021 proposed @CityofPoCo budget: a modest 2.37% increase but eliminating $25 parcel tax. Increase going to city cleanliness, parks maintenance, snow removal & bylaw/community safety. The right balance. A prudent, responsible budget. Thanks to our team. #bcpoli
— Brad West (@BradWestPoCo) November 20, 2020
According to a staff report, the city will be monitoring the financial impacts associated with the public health crisis and may make adjustments if necessary.
“Over time, we have refined a rigorous budget process that maintains our focus on the most integral city services and the infrastructure that supports them, like our roads, utilities and buildings,” said PoCo Coun. Dean Washington, council’s designate on budget matters. “We will continue to meet that commitment in 2021 and beyond.”
PoCo council will review the draft budget document in committee next week before the plan goes out for public consultation. Brochures outlining the budget will be mailed to property owners and an online survey will be conducted.
Staff will use the feedback as they prepare the final budget.
