2021 Proposed Budget Breakdown

In 2021, the City is proposing to collect $46,590,000 – approximately $1,998,000 more than last year – in property taxes from residents and businesses to balance the budget. The proposed tax rate increase is 4.5 per cent over 2020. The average household would see an increase of about $108 for the year – that’s $9 per month, or $2.08 per week.

One percentage point (equal to $444,000 in 2021) of the proposed 4.5 per cent tax rate increase is for the Asset Renewal Levy, which funds the replacement of existing critical infrastructure, amenities, and facilities; the other 3.5 percentage points (equal to $1,554,000 in 2021) would be used to fund increases to the operating budget.

Here’s what it would cost an average* household to run the City in 2021:

	City Administration $117 (-$5 from 2020)
	Community Services $565 (+$93 from 2020)
	Engineering and Operations $149 (+$6 from 2020)
	Finance and Technology $177 (+$21 from 2020)
	Fire Rescue $503 (+$14 from 2020)
	Fiscal Services $91 (–$83 from 2020)
	People, Communications & Engagement $97 (+$6 from 2020)
	Port Moody Public Library $110 (+$6 from 2020)
	Community Development $52 (+$12 from 2020)
	Port Moody Police $651 (+$38 from 2020)

* The average property assessment for a Port Moody home is $970,000 in 2021