2023 Budget Consultation

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As they consider the proposed 2023 budget, Council wants to hear from Port Moody residents and business owners. How do you think the City should balance service levels and tax rates? What do you think of the proposed funding levels for specific service areas?

The budget process is about balancing the delivery of services and programs (spending) with property taxes, fees and charges, and funds from other sources (revenues) to meet the needs of the community. Your input helps Council and the City find that balance and provide the best value for your tax dollars.

In 2023, the City is proposing to collect $54,240,000 – approximately $5,496,000 more than last year – in property taxes from residents and businesses to balance the budget. The proposed tax rate increase for the average household is 11.33 per cent. This means in 2023 the average household would see an increase of approximately $296 for the year – that’s $5.69 per week or $0.81 per day.

Find out more:

Do you have a question about the budget process or the 2023-2027 Draft Financial Plan? Post your question below and we'll answer it.

Our community survey is not closed. We would like to thank everyone who took the time to give us your feedback. Watch this page for updates.

As they consider the proposed 2023 budget, Council wants to hear from Port Moody residents and business owners. How do you think the City should balance service levels and tax rates? What do you think of the proposed funding levels for specific service areas?

The budget process is about balancing the delivery of services and programs (spending) with property taxes, fees and charges, and funds from other sources (revenues) to meet the needs of the community. Your input helps Council and the City find that balance and provide the best value for your tax dollars.

In 2023, the City is proposing to collect $54,240,000 – approximately $5,496,000 more than last year – in property taxes from residents and businesses to balance the budget. The proposed tax rate increase for the average household is 11.33 per cent. This means in 2023 the average household would see an increase of approximately $296 for the year – that’s $5.69 per week or $0.81 per day.

Find out more:

Do you have a question about the budget process or the 2023-2027 Draft Financial Plan? Post your question below and we'll answer it.

Our community survey is not closed. We would like to thank everyone who took the time to give us your feedback. Watch this page for updates.

  • 2023 proposed budget breakdown

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    CLOSED: This discussion has concluded.


    How much is the City proposing to collect?

    In 2023, the City is proposing to collect $54,240,000 – approximately $5,496,000 more than last year – in property taxes from residents and businesses to balance the budget. The proposed tax rate increase for the average household is 11.33 per cent. This means in 2023 the average household would see an increase of approximately $296 for the year – that’s $5.69 per week or $0.81 per day.

    Why is the City proposing to collect more than last year?

    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.

    Nearly eight (7.99) percentage points (equal to $3,866,000) of the proposed 11.33 per cent tax rate increase would be used to fund increases to the operating budget to maintain the same levels of service provided in 2022.

    One percentage point (equal to $485,000) is for the Asset Renewal Levy, which funds the replacement of existing critical infrastructure, amenities, and facilities.

    And just under one (0.93) percentage point (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 percentage point (1.41), representing net new funding of $687,000, would address increased demand for services.

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  • Proposed capital projects

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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 2023-2027 Draft Financial Plan:

    • Water Network Infrastructure Asset Renewal Program
    • Major Road Network (MRN) Road Rehabilitation Program
    • Ioco Road corridor reconstruction (infrastructure)
    • Ioco Road corridor reconstruction (water)
    • Local Road Network (LRN) Road Reconstruction Program
    • Stoney Creek sanitary sewer rehabilitation
    • Alderside foreshore sanitary sewer assessment
    • Storm Drainage Capital Infrastructure Program
    • Recreation Complex Arena 1 dressing rooms
    • Works Yard building envelope replacement

    The projects listed above represent nearly 54 per cent (or $10 million) of the proposed capital budget. You can read the full list of proposed capital projects in the Draft Financial Plan.

Page last updated: 20 Mar 2023, 04:20 PM