The City of Port Moody is looking for public feedback on its proposed budget for the coming year.
A community survey has gone live on the city’s website to collect comments and provide further information about the budget that currently anticipates a property tax increase of 8.37 per cent for the average household.
That equates to about $224 for a residential property in the city with an assessed value of $1,248,000.
"Our budget process is about balancing the community’s needs and expectations with ensuring the best value for taxpayers’ dollars," said Port Moody Mayor Meghan Lahti in a news release.
Council gave its assent to the preliminary budget last December. It includes $637,000 for hiring several new positions like a public art coordinator, a new training sergeant for Port Moody Police along with help to implement a new master plan for the city’s fire department.
As well, Port Moody is planning to bring back its Car Free Day festival at a cost of $124,000. It’s been on hold since the advent of the COVID-19 pandemic.
Capital projects in the budget include various road, water and sewer rehabilitation and repair projects along with the installation of air conditioning in the gym at the city’s recreation complex and a renovation of its skate shop.
Tyson Ganske, Port Moody’s deputy chief financial officer, said the city is facing several unique financial challenges like inflation that’s driving costs for transportation, insurance, construction and services while revenues struggle to keep pace.
As well, it’s coping with increasing impacts from climate change as well as community and social issues like affordable housing, child care and homelessness.
“Budget considerations must take into account the need to address these pressing issues while also balancing the limited resources available,” Ganske said.
Lahti said council recognizes those pressures, as well as the demands being made on the household budgets of city residents.
“We are mindful of the need to keep property tax increases as low as possible while maintaining service levels,” she said.
Following input from the survey, that concludes Jan. 28, council will deliberate on the budget beginning in February. The final budget must be approved by May 15.
