2024 Budget Consultation

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This project is no longer open for input.

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 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:

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

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 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:

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

This project is no longer open for input.

  • 2024 proposed budget breakdown

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    How much is the City proposing to collect?

    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.

    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 salaries and wages; employee benefits; insurance; public safety resources (i.e. three new positions: two firefighters and one police training sergeant); implementation of the City’s Climate Action Plan; replacement of existing critical infrastructure, amenities, and facilities; and increased demand for City services.

    Click the image below to view a larger version.

    How much is the City proposing to collect?

    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.

    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 salaries and wages; employee benefits; insurance; public safety resources (i.e. three new positions: two firefighters and one police training sergeant); implementation of the City’s Climate Action Plan; replacement of existing critical infrastructure, amenities, and facilities; and increased demand for City services.

    Click the image below to view a larger version.

    This project is no longer open for input.

  • 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 Provisional 2024-2028 Financial Plan:

    • water network infrastructure asset renewal program
    • Major Road Network (MRN) road rehabilitation program
    • Ioco Road corridor reconstruction (part of planned multi-utility replacements)
    • sanitary sewer infrastructure maintenance and rehabilitation program
    • storm drainage improvements in Moody Centre
    • Local Road Network (LRN) road reconstruction program
    • installation of air conditioning in the Recreation Complex gymnasium
    • renovation of skate shop in the Recreation Complex
    • washroom upgrades in the Civic Centre building


    The projects listed above represent nearly 53 per cent (or $12.5 million) of the proposed capital budget. You can read the full list of proposed capital projects in the Provisional Five-Year Financial Plan(External link) (PDF).

    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 Provisional 2024-2028 Financial Plan:

    • water network infrastructure asset renewal program
    • Major Road Network (MRN) road rehabilitation program
    • Ioco Road corridor reconstruction (part of planned multi-utility replacements)
    • sanitary sewer infrastructure maintenance and rehabilitation program
    • storm drainage improvements in Moody Centre
    • Local Road Network (LRN) road reconstruction program
    • installation of air conditioning in the Recreation Complex gymnasium
    • renovation of skate shop in the Recreation Complex
    • washroom upgrades in the Civic Centre building


    The projects listed above represent nearly 53 per cent (or $12.5 million) of the proposed capital budget. You can read the full list of proposed capital projects in the Provisional Five-Year Financial Plan(External link) (PDF).

    This project is no longer open for input.