Port Coquitlam’s newly elected council plans to squeeze the property tax hike below the 3% mark this year.
And the proposed boost will likely mean a small drop in the tax rate for owners of houses.
The draft city budget, which came before committee of council last week, calls for a 2.99% increase for the average home assessed at $818,564.
That translates to:
• a $10.27 decrease for the average house assessed at $990,514;
• a $91.87 increase for the average townhouse assessed at $710,328;
• and a $86.07 jump for the average apartment assessed at $465,179.
The drop for house owners is due to the 2018 assessment rate: In PoCo, residential values went up an average of 6.45% last year but assessments for single-family homes were, in general, less compared with multi-family units.
The tax rate includes a $23.16 increase for curbside collection of garbage, recycling and green waste but does not include the $25 parcel tax to pay for the $132-million recreation complex rebuild — an annual fee that’s in effect until next year.
Yesterday (Tuesday), Mayor Brad West told The Tri-City News the property tax hike, which council has yet to adopt, is “one of the lower in Metro Vancouver.”
By comparison, Vancouver residents are facing a 4.5% jump this year while Port Moody council is considering 5.55%, Pitt Meadows 5.75% and Burnaby 2.7%; Coquitlam’s budget goes to council for consideration Monday.
PoCo’s proposed tax increase of 2.99% — more than double last year's — will pay for long-term infrastructure replacement (1%) and, for the last time, the rec centre update (1%).
The other 0.99% will pay for, among other things: a new asset management program ($250,000); a new Port Coquitlam Events Society ($120,000); and digitization of property records ($60,000).
Council also plans to hire two more police officers to complement Coquitlam’s addition of four more cops to the RCMP detachment it shares with PoCo, with a focus on traffic, youth, sex crimes and domestic violence; the cost will be offset by revenue from new development as well as adjustments for vacancies and contract savings.
No extra money is allocated to hire additional firefighters but the draft budget makes room for new wayfinding signs for the downtown; cash to support the PoCo Community Foundation, Coquitlam River Watershed Roundtable and the PoCo Heritage and Cultural Society; funding to market city recreation programs; and a large video screen and speakers for the Remembrance Day service.
As well, last fall, council adopted the $87-million capital plan that will provide for Centennial Pool upgrades, a new spray park at Castle Park, drinking water stations at Leigh Square Community Arts Village and Gates Park, and designs for Prairie Avenue improvements.
Meanwhile, city staff are asking for feedback on the draft budget. Between March 4 and 25, PoCo property owners can have their say via an online survey, found at portcoquitlam.ca/budget. Residents can also call 604-927-5280 or email budget@portcoquitlam.ca.
Under the Community Charter, municipal budgets must be passed by mid-May.
