There's a good chance Port Moody residents will see a 5.1% jump in their property tax bills this year — about twice the increase facing their neighbours in Coquitlam and Port Coquitlam — but the growing price tag to live in the City of the Arts didn't draw many concerned citizens to a public input session this week.
Following a budget presentation Tuesday, a handful of residents gave their feedback, which will be combined with any online input and used to fine-tune the books before a tax rate and five-year financial plan are approved in May.
Resident John Grasty expressed concern with PoMo's financial reserves and whether the average $37 million in savings, which finance director Paul Rockwood said were already spoken for, would be able to balance the city's long-term debt. As well, Grasty questioned where money would come from to improve and expand aging amenities on PoMo's west side, the Westhill pool and Glenayre community centre.
"The focus has seemed to be everywhere else in Port Moody except there… A third of the population live up there, or at least a quarter anyway," Grasty said, adding he'd like to see a breakdown of the grants awarded each year.
And while one resident wanted to see staff and council come up with creative ways to fund the shortfall rather than resorting to increasing property taxes, another suggested PoMo taxpayers are willing to pay more if it means seeing some long-awaited infrastructure built.
As it stands, though, the 2017 budget offers little in the way of additions; starting with 2016 service levels at today's prices automatically means a 3.29% jump.
Projects in the draft financial plan include replacing a Zamboni, street sweeper and garbage truck as well as road repairs, facilities improvements, upgrades to the Barnet Highway overpass and park upgrades.
A large chunk of the 5.1% increase is due to the loss of the $1.3-million Burrard Thermal generating capacity grant, which translates into a 3.8% tax increase. Another big bite comes from contractual increases to salaries and wages (a 1.95% increase), no surprise when staff paycheques eat up 63% of the overall operating budget, while the capital asset levy adds another 1%.
Staff have put together a package of requests for new services that would add 0.79%, including a few new positions and shifts from part-time to full-time jobs.
Of the $38.5 million collected through property taxes, nearly two thirds go to the police and fire departments (about $18.1 million), followed by community services ($5.1 million), engineering and parks ($4.6 million) and corporate services ($3.2 million). The library gets a $1.7-million share, while $959,000 goes to development services.
If the budget is approved, the owner of an average assessed home valued at$856,000 will pay $2,109.
Staff also projected the bill for homeowners with $1 million and $1.45 million assessments — their tax bills would be $2,463 and $3,572, respectively.
Utility charges will add about $1,200 more to the bill.
• Residents can still provide feedback via an online form at www.portmoody.ca, where there are full details on the draft financial plan.
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