2025 Budget Consultation

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This consultation has concluded. Thank you for your participation.

At the November 19, 2024 Finance Committee meeting, City of Port Moody staff presented a report with consultation results. Find out what we heard from the community - the report is available in the Nov. 19, 2024 on-table items package, item 4.3. 

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 the right balance and provide the best value for your tax dollars.

In 2025, the City is proposing to collect $63,935,000, approximately $4,976,000 more than last year – in property taxes from residents and businesses to balance the budget. The estimated tax rate increase for the average household is currently being proposed by staff at 8.52 per cent. This means in 2025 the average household would see an estimated increase of approximately $248 for the year – that’s $4.77 per week or $0.68 per day. “Average household” refers to a Port Moody residential property assessed by BC Assessment at the preliminary 2024 average amount of $1,270,000. The increase for each individual household will depend on the value of your household and your change in assessed value relative to the average change in assessed value for all other households.

Learn more

Here are some resources to explore:

Next steps

In October/November 2024, we asked for input via a community survey. We asked participants how the City should balance tax rates and service levels. A summary of public engagement results was presented to Council for their consideration at a Finance Committee meeting on November 19, 2024. Find out what we heard from the community - the report is available in the Nov. 19, 2024 on-table items package, item 4.3. 

Staff and Council will also consider information collected as part of the 2024 Community Satisfaction Survey, conducted by Ipsos, in budget workshops and deliberations. Council will approve a Draft 2025-2029 Financial Plan in December 2024. Final approval of the budget will take place in April 2025. Municipalities must set their property tax rates by bylaw before May 15 of each year.

At the November 19, 2024 Finance Committee meeting, City of Port Moody staff presented a report with consultation results. Find out what we heard from the community - the report is available in the Nov. 19, 2024 on-table items package, item 4.3. 

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 the right balance and provide the best value for your tax dollars.

In 2025, the City is proposing to collect $63,935,000, approximately $4,976,000 more than last year – in property taxes from residents and businesses to balance the budget. The estimated tax rate increase for the average household is currently being proposed by staff at 8.52 per cent. This means in 2025 the average household would see an estimated increase of approximately $248 for the year – that’s $4.77 per week or $0.68 per day. “Average household” refers to a Port Moody residential property assessed by BC Assessment at the preliminary 2024 average amount of $1,270,000. The increase for each individual household will depend on the value of your household and your change in assessed value relative to the average change in assessed value for all other households.

Learn more

Here are some resources to explore:

Next steps

In October/November 2024, we asked for input via a community survey. We asked participants how the City should balance tax rates and service levels. A summary of public engagement results was presented to Council for their consideration at a Finance Committee meeting on November 19, 2024. Find out what we heard from the community - the report is available in the Nov. 19, 2024 on-table items package, item 4.3. 

Staff and Council will also consider information collected as part of the 2024 Community Satisfaction Survey, conducted by Ipsos, in budget workshops and deliberations. Council will approve a Draft 2025-2029 Financial Plan in December 2024. Final approval of the budget will take place in April 2025. Municipalities must set their property tax rates by bylaw before May 15 of each year.

This consultation has concluded. Thank you for your participation.

  • 2025 proposed budget breakdown

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    How much is the City proposing to collect?

    In 2025, the City is proposing to collect $63,935,000, approximately $4,976,000 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 currently being proposed by staff at 8.52 per cent. This means in 2025 the average household would see an increase of approximately $248 for the year – that’s $4.77 per week or $0.68 per day. “Average household” refers to a Port Moody residential property assessed by BC Assessment at the preliminary 2024 average amount of $1,270,000. The increase for each individual household will depend on the value of your household and your change in assessed value relative to the average change in assessed value for all other households.

    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: labour costs including salaries and wages; employee benefits; insurance; implementation of the City’s Climate Action Plan; and replacement of existing critical infrastructure, amenities, and facilities.

    Click the image below to view a larger version.


  • 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 Draft 2025-2029 Financial Plan:

    • implementation of the Old Orchard Park Master Plan;
    • linear and non-linear water, sewer, and drainage infrastructure renewal;
    • storm drainage improvements (Moody Centre);
    • Local Road Network (LRN) road reconstruction;
    • Moray Street traffic calming;
    • solid waste truck replacement; and
    • replacement of heat pump system for Inlet Centre Firehall.


    The projects listed above represent nearly 49 per cent (or $13 million) of the proposed capital budget. You can read the full list of proposed capital projects in the Draft 2025-2029 Financial Plan.