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The City collects taxes from residents and businesses to pay for the day to day operations of the City as well as to set aside funding for City capital requirements. The City also collects levies and fees on behalf of other government authorities which are not within the City’s control, including: BC Assessment, Municipal Finance Authority, Greater Vancouver Regional District (GVRD), TransLink, and schools taxes collected on behalf of the Province of BC.

Your total tax bill may have increased more than 4.6% because:

  • Your tax bill includes levies of other government authorities which are outside the City’s control and are not included in the 4.6% municipal tax increase.
  • The assessed value of your home increased more than the average home value increase of 9%.
  • The B C. Assessment Authority, not the City of Port Moody, is the agency responsible for assessing your property.
  • For information on your residential property assessment call B.C. Assessment Authority at 604.294.6441.

What factors contributed to the City of Port Moody’s 4.6% Property Tax increase?

  • Uncontrollable costs such as increased utility charges (natural gas, hydro, etc.), fuel costs, contractual labour increases (regional settlements), and downloaded costs from higher governments.
  • A 1% Master Transportation Levy to provide improvements to Port Moody’s road network, and providing better options for walking, cycling, and using transit over the next 20 years.
  • Technological and service improvements, and re-instatement of the community grant program.
    City of Port Moody 2018 Residential Assessment Market Changes by Neighbourhood 
     

City of Port Moody 2018 Residential Assessment Market Changes by Neighbourhood

2018 Residential Assessment Market Changes by Neighbourhood
Source: BC Assessment

 

 

Last updated: 22/05/2018 2:51:24 PM