Property taxes for Port Coquitlam homeowners are going up 5.58 per cent in July.
But the lift is still the lowest in Metro Vancouver, Mayor Brad West said yesterday, April 23, before council gave three readings to the new budget bylaw and tax rates.
“The city is demonstrating leadership that’s distinguishing ourselves in the region,” West said at the council meeting, adding, “The financial plan makes a number of investments in the priorities of this community while also being very respectful of our taxpayers and trying to strike that right balance.”
“You’re going to see a number of improvements in every part of Port Coquitlam based on this plan while also maintaining the lowest property taxes of the 21 cities that make up Metro Vancouver.”
West’s comments came the same day Port Moody city council voted for a 6.9 per cent increase in property taxes — or another $189 — and a day after Coquitlam council OK’d its tax boost of 8.92 per cent, resulting in $210 more for Coquitlam homeowners.
PoCo’s property tax rise of $117.39 more, based on an average home assessed at $1,078,237, doesn’t include increases to utility levies.
Those fees, listed below, will also go up:
- 2.96 per cent for water
- $13.82 more
- 14.71 per cent for sewer
- $51.78 more
- 25.34 per cent for solid waste collection
- $62.67 more
Drill down on taxes
Specifically, PoCo’s property tax adjustment is made up of 3.56 per cent more for city services and an additional 2.02 per cent for the RCMP that’s shared with Coquitlam.
According to a financial report, PoCo staff did a line-by-line review of proposed revenues and expenditures for 2024, as well as deferred non-critical items, dipped into reserves and surplus accounts, and sought grants to bring the tax rate down.
Still, the proposed budget will include cash for another firefighter; improved waste services (formalizing the large-item pick-up program and developing a curbside glass collection for next year); more cybersecurity and technology; special events; operating grants for community groups; and access support for recreational programs.
In addition, the budget also includes more staff and city services — without tax impact — like for more bylaw officers, planning staff, a real estate manager and a facility maintenance co-ordinator, and additional program resources at the two rec centres.
Tax notices will be mailed out next month; payments must be received by July 2 or a five per cent penalty will be applied to unpaid taxes; a second five per cent fine comes after Sept. 16. For more details about PoCo’s Budget 2024, you can visit the city website.
