Coquitlam homeowners will pay 2.71% more in property tax this year after council voted unanimously Monday to adopt its five-year financial plan.
The average Coquitlam homeowner will pay $2,982 this year, approximately $73 more than last year. The increase includes $48 in property tax, $4 for water rates, $13 in sewer and drainage rates and $8 in solid waste charges.
Part of the increase will be used to fund the hiring of six RCMP officers at a cost of $891,000.
The new Mounties will be used in high-crime areas, with additional patrols expected in Town Centre and around the new Evergreen Line stations, which will be open in 2016.
The city will use $500,000 of the new money for parks and capital funding, which will support the city's parks master planning process, and an additional $500,000 is needed for facility and maintenance funding.
Other spending items include:
$243,000 for parks and recreation program funding for services in the city's rec centres;
$218,000 to upgrade outdated systems at Coquitlam Public Library;
$121,000 to hire an arts and culture manager;
$100,000 for road and streetscape rehabilitation;
$75,000 for administrative support;
and $50,000 for new gear for firefighters.
As part of the city's tax-shift policy, which aims to balance out the tax rates between residential and commercial property owners, the latter will only see a 1.71% rise this year. The combined tax increase when commercial and residential are combined is 2.34%.
While the city has sought to diversify its revenue streams, the largest amount of its income comes from property tax (52%). Another 25% comes from fees, rates and service charges while 8% comes from a sewer parcel fee, 4% comes from grants, 3% comes from casino revenue and 2% comes from investment income.
Mayor Richard Stewart noted that Monday's budget vote was the first time in 10 years that a financial plan was passed unanimously. In previous years, former councillor Lou Sekora voted against the budgets. He unsuccessfully challenged Stewart for the mayor's chair in last November's civic election.
@GMcKennaTC
