Port Coquitlam residents may end up paying less in property tax this year than was initially proposed by the city.
Originally, the draft financial plan called for a rate increase of 4.77%, or roughly $90 for the average single-family homeowner, including a $19 (1%) fee to address the city's infrastructure gap.
However, under the newly revised document posted on the city website last week, residents are now looking at a 2.97% tax increase.
The reduction comes after a lengthy public consultation period in which city staff were told by residents to limit any rate hike this year.
"The general message was for the city to improve services without significant increases in tax rates," said a city staff report. "This expectation made decisions in this budget a challenge and some difficult decisions were required."
The city received more than 250 responses to their budget proposal, with the majority (200) coming from an online budget survey last fall.
As a result of the lengthy public consultation, the financial planning process took longer than anticipated, said the report.
But the lower than anticipated increase will have some impact on city services.
Staffing increases in development services, fire and police departments were removed from the proposed budget and funding for the Port Coquitlam Community Foundation was reduced from $50,000 to $35,000.
Additionally, support for the Sports Alliance was from $30,000 to $15,000 and the infrastructure gap funding was reduced from $250,000 to $140,000.
A $41 utility fee increase, much of which is set by Metro Vancouver, did not change in the new proposed financial plan.
In total, the average single-family homeowner in Port Coquitlam will pay $2,792 in 2012, up from $2,696 in 2011.
The public will get the opportunity to weigh-in on the proposed financial plan at a council meeting at city hall (2580 Shaughnessy Street) on Monday, April 23 at 7 p.m.
The budget bylaw is expected to be passed at a special regular council meeting on April 30 before final adoption on May 14.
