2023 Budget Consultation

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This project is no longer open for input.

Thank you to everyone who participated in our 2023 budget consultation. The 2023-2027 Five-Year Financial Plan Bylaw was adopted by Council at the Regular Council Meeting on May 9, 2023.

What we heard: City staff presented a report with 2023 budget consultation results at the April 4, 2023 Finance Committee Meeting. See agenda item 2.1 for the report and attached public engagement summary.

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.

Thank you to everyone who participated in our 2023 budget consultation. The 2023-2027 Five-Year Financial Plan Bylaw was adopted by Council at the Regular Council Meeting on May 9, 2023.

What we heard: City staff presented a report with 2023 budget consultation results at the April 4, 2023 Finance Committee Meeting. See agenda item 2.1 for the report and attached public engagement summary.

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.

This project is no longer open for input.

Do you have a question about the budget process or the 2023-2027 Draft Financial Plan? Post it here and we’ll reply on this page or via email within three business days.

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    Will any of the $6.7 Growing Community Fund be factored into the 2023 budget? Will residents of Port Moody have a chance to give feedback regarding the funds to be received by the province.

    P.M. asked about 1 year ago

    At this time, funding for the growing community has not been included in the 2023 budget. Council will evaluate this funding opportunity further once additional information becomes available from the province. In the meantime, Council welcomes feedback from residents regarding their thoughts on this matter.

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    Was there an operating surplus for 2022? If so can it be applied to the council contingency reserve?

    P.M. asked about 1 year ago

    While the 2022 operating surplus has not been finalized, current projections suggest that it will be minimal. As per our policy, in years where a surplus exists, 75% of the surplus is allocated to the Asset Reserve, while the remaining 25% is retained in the Accumulated Surplus.

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    Has city staff identified other areas besides animal control where sharing resources with Coquitlam could help save money and improve quality of life? From a purely dollars-and-cents perspective, what would happen to our property taxes and level of public services if we annexed Port Moody into Coquitlam?

    asmallteapot asked about 1 year ago

    Regarding your first question, in addition to Animal Control, some other areas identified for collaboration with Coquitlam include intermunicipal business licenses, Fire Rescue agreements, sport field sharing agreements, snow removal, and some utility infrastructure services.

     As for your second question, annexation is a complex process and the impact on property taxes and level of public services would be dependent on a variety of factors, such as the current tax rates and service levels in both Port Moody and Coquitlam, the cost of integrating services and infrastructure, and any potential changes in the population or economic activity. A thorough analysis of these factors would be required to predict the exact impact of annexation on property taxes and public services.