PoCo proposes 5.58% tax hike
While they may not have to dig as deep as some of their neighbours, Port Coquitlam residents will likely have to dig a little deeper than last year come tax time.
While the number is still preliminary, Port Coquitlam unanimously supported a property tax increase of 5.58 percent at Tuesday’s meeting.
Including utilities, residents are expected to pay an average of $3,418 in 2024.
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For the average homeowner, the total property tax bill would be $2,221 – an increase of $117 from last year.
City services are expected to tick up by 3.56 percent, adding $74.89 to the average property tax bill.
Given across-the-board inflation, the increase is “very moderate,” said Mayor Brad West.
The tax bill also covers a two percent increase in policing costs, amounting to an extra $42.50 for the average taxpayer.
Policing costs are “completely outside of the city’s control,” West said, noting the increase is largely attributable to agreements negotiated by higher levels of government.
“The bill gets handed to us and we need to deal with it,” he said.
The city is set to initiate public consultation on the budget Jan. 9. A synopsis of the budget is slated to be delivered to Port Coquitlam homes and an online survey is set to be posted.
Council is scheduled to vote on the final budget next spring.
Coquitlam recently approved an 8.9 percent property tax increase. Port Moody council is considering an 8.13 percent property tax hike.
Utilities
Port Coquitlam residents are expected to pay about $1,196 for sewer, water and solid waste in 2024. That figure represents an increase of $128, or approximately 12 percent, compared to last year.
That increase stems largely from solid waste costs, which are slated to jump from $247 to $310 for the average homeowner. The 23.3 percent solid waste uptick covers large item pickup as well as blue bin service.
Sewer rates are slated to rise 14.71 percent, boosting the average cost from $350 to $401 for 2024.
Water rates are set to rise 2.96 percent, the equivalent of about $14.
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