Port Coquitlam homeowners will pay 4.23% — or $113.91 — more this year in property, parcel and utility taxes.
At a special meeting last night (Tuesday), city council was set to vote on three readings of the draft financial plan with another special council scheduled for tomorrow night (Thursday) for fourth and final bylaw approval.
The increase for the "average" home — that is, a combination of a single- and multi-family homes with a valuation of $682,859 — includes $3.49 more for water, $11.12 for sewer and $7.06 for solid waste. Another $25 for the recreation complex parcel tax is also included.
The tax lift will pay for, among other things:
• a portion of the new $132-million community recreation complex ($33.5 million);
• three more Mounties for PoCo's RCMP Uniformed Crime Reduction Unit ($237,000);
• and five more PoCo firefighters ($305,000).
According to a survey conducted by the municipality between March 22 and April 11, one-third of the 640 respondents said they feel they're getting good value from city hall but want more investment in road work — specifically street, sidewalk and crosswalk upgrades.
Like in previous years, the 2017 budget includes the equivalent of 1% in taxes — or $594,700 — and another 1% in utility rates — or $187,700 — to replace infrastructure. The plan also includes about $13.5 million in capital work related to neighbourhood rehabilitation, wrote Farouk Zaba, PoCo's manager of financial planning and systems, in his report to council.
Meanwhile, the draft financial plan also calls for:
• developing an infrastructure management plan, at a cost of $145,000 (to be funded from surplus accounts) to help the city look at its $1 billion in roads, bridges and pipes over the next 10 to 30 years;
• compiling engineering studies to inspect and assess infrastructure;
• exploring technical innovation with Telus, at a cost of $20,000 (to be funded from reserves);
• hiring a new financial analyst and enhancing supervisory skills training for staff;
• and renewing the city's partnership with the PoCo Sports Alliance until 2022, at a cost of $18,000 (to be funded from the arts and culture reserve).
As for individual property tax rises, the actual amount will depend on the assessed value. For 2017, the average PoCo property shot up by 33.75%; homes higher than that percentage will pay more in property taxes.
Under the Community Charter, annual property taxes and solid waste rates must be adopted before May 15.
