2024 Budget Consultation

Thank you to everyone who participated in our 2024 budget consultation.

What we heard: Staff presented a report with the public engagement results at the Finance Committee meeting on February 20, 2024 (see agenda item 4.5).

On April 23, 2023 staff will present the 2024-2028 Five-Year Financial Plan (agenda item 11.1) to Finance Committee.

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 2024, the City is proposing to collect $59,143,000 – approximately $5,368,000 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 8.37 per cent. This means in 2024 the average household would see an increase of approximately $224 for the year – that’s $4.31 per week or $0.61 per day. “Average household” refers to a Port Moody residential property assessed by BC Assessment at the preliminary 2024 average amount of $1,248,000.

Find out more:

• review our proposed budget breakdown to learn more about the proposed tax rate increase and to find out what it would cost an average household to run the City in 2024
• read our budget guide (PDF) with information about the budget process and the City’s proposed net operating expenses for 2024
• see examples of capital projects proposed in the 2024 Provisional Financial Plan
• read the full 2024–2028 Provisional Financial Plan (External link)(PDF)
• review our frequently asked questions
• watch our video (External link) to understand how your property taxes are calculated
• view City Council presentations and meeting videos (External link) from the budget planning process

The 2024 budget survey and question forum are now closed. Thank you to everyone who took the time to provide input.