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Thank you to the 289 engaged participants who took part in our 2022 Budget Consultation. The City relies on ongoing input from the community to ensure we are balancing the delivery of services and programs with property taxes, fees, and charges. Your feedback is valued.
City staff will present a report at a March 15, 2022 Finance Committee Meeting (Item 3.2). The meeting starts at 5pm, and can be livestreamed on our website.
Key findings from the staff report include:
- More than 70% of respondents identified the following City services as very important:
- Parks, trails, sports fields, and green spaces (development and maintenance) (77%)
- Fire Rescue services (75%);
- Garbage, green waste, recycling, and glass collection (72%).
- Land use and development planning (70%)
- The services that were selected by the most respondents as “not important” are:
- Heritage conservation (27%)
- Arts and culture (e.g. artist grant program, community events, public art) (26%)
- Library services (19%)
- 74% of survey respondents indicated that they received good (63%) or excellent (11%) value in relation to the taxes and utility fees that they pay.
- 49% of survey respondents wanted to maintain current service levels through a tax increase and 27% wanted to reduce service levels to keep the tax rate the same as last year.
- 48% of respondents wanted to leave subsidies and user fees the way they are (no change); however, 35% wanted to decrease subsidies so users pay more than they do now.
Thank you to the 289 engaged participants who took part in our 2022 Budget Consultation. The City relies on ongoing input from the community to ensure we are balancing the delivery of services and programs with property taxes, fees, and charges. Your feedback is valued.
City staff will present a report at a March 15, 2022 Finance Committee Meeting (Item 3.2). The meeting starts at 5pm, and can be livestreamed on our website.
Key findings from the staff report include:
- More than 70% of respondents identified the following City services as very important:
- Parks, trails, sports fields, and green spaces (development and maintenance) (77%)
- Fire Rescue services (75%);
- Garbage, green waste, recycling, and glass collection (72%).
- Land use and development planning (70%)
- The services that were selected by the most respondents as “not important” are:
- Heritage conservation (27%)
- Arts and culture (e.g. artist grant program, community events, public art) (26%)
- Library services (19%)
- 74% of survey respondents indicated that they received good (63%) or excellent (11%) value in relation to the taxes and utility fees that they pay.
- 49% of survey respondents wanted to maintain current service levels through a tax increase and 27% wanted to reduce service levels to keep the tax rate the same as last year.
- 48% of respondents wanted to leave subsidies and user fees the way they are (no change); however, 35% wanted to decrease subsidies so users pay more than they do now.
Consultation has concluded.
Share 2022 Proposed Budget Breakdown on Facebook
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In 2022, the City is proposing to collect $48,523,000 – approximately $2,756,000 more than last year – in property taxes from residents and businesses to balance the budget. The proposed tax rate increase is 5.97 per cent over 2021 for the average household. This means the average household would see an increase of approximately $150 for the year – that’s $12.50 per month or $2.88 per week.
One percentage point (equal to $462,000 in 2022) of the proposed 5.97 per cent tax rate increase is for the Asset Renewal Levy, which funds the replacement of existing critical infrastructure, amenities, andContinue reading
In 2022, the City is proposing to collect $48,523,000 – approximately $2,756,000 more than last year – in property taxes from residents and businesses to balance the budget. The proposed tax rate increase is 5.97 per cent over 2021 for the average household. This means the average household would see an increase of approximately $150 for the year – that’s $12.50 per month or $2.88 per week.
One percentage point (equal to $462,000 in 2022) of the proposed 5.97 per cent tax rate increase is for the Asset Renewal Levy, which funds the replacement of existing critical infrastructure, amenities, and facilities; and 0.97 per cent (equal to $450,000) is due to the 2021 change in use of property owned by Mill and Timber Products Limited, which moved from the heavy industry tax classification (Class 4) to business/other (Class 6). The remaining four percentage points (equal to $1,844,000 in 2022) would be used to fund increases to the operating budget and a limited number of new services.
The City is proposing to collect more in property taxes this year to cover rising costs related to factors such as: inflation; labour costs including WorkSafeBC premiums; employee benefits; insurance; improvements to services, facilities, and infrastructure; and increased demand for City services.
Consultation has concluded.
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The City has two types of budget expenses: operating and capital. Our operating budget covers spending related to Port Moody’s day-to-day operations. The City’s capital budget funds larger, longer-term projects, mostly related to maintaining, upgrading, and replacing the City’s infrastructure and facilities.
Here are some of the capital projects proposed in the 2022-2026 Draft Financial Plan:
- Shoreline Trail inlet boardwalk and pedestrian bridge reconstruction
- Trasolini Field synthetic turf replacement
- Glenayre/Seaview/College Park water system rehabilitation
- Local Road Network (LRN) road reconstruction program
- Ioco Road corridor reconstruction (water system)
- Noons Creek bike trail bridge infrastructure
- development application process improvements
- Major Road NetworkContinue reading
The City has two types of budget expenses: operating and capital. Our operating budget covers spending related to Port Moody’s day-to-day operations. The City’s capital budget funds larger, longer-term projects, mostly related to maintaining, upgrading, and replacing the City’s infrastructure and facilities.
Here are some of the capital projects proposed in the 2022-2026 Draft Financial Plan:
- Shoreline Trail inlet boardwalk and pedestrian bridge reconstruction
- Trasolini Field synthetic turf replacement
- Glenayre/Seaview/College Park water system rehabilitation
- Local Road Network (LRN) road reconstruction program
- Ioco Road corridor reconstruction (water system)
- Noons Creek bike trail bridge infrastructure
- development application process improvements
- Major Road Network (MRN) road rehabilitation program
- Public Works Yard roof replacement
- maintenance dredging of the inlet at Rocky Point Pier
The projects listed above represent nearly 50 per cent (or $8.4 million) of the proposed capital budget. You can read the full list of proposed capital projects in the Draft Financial Plan.
Consultation has concluded.
BUDGET – EXPENSES
To understand your property value assessment and how your taxes are calculated, watch our video.
