|The City of Port Moody analyses all budgeted revenues and expenses each year to ensure they are required, calculated correctly, and are allocated to the appropriate service. 2017 will be the first year the City does not receive the generating capacity grant from BC Hydro for the Burrard Thermal Generating Station. This resulted in a loss of nearly $1.3 million in annual revenues to the City and equates to an approximate 3.8% tax increase.
In 2017, a Port Moody homeowner with an average-priced home ($856,000) will see a $121 tax increase. Your tax increase will be higher if your assessed home value was above the average.
62% of your total tax bill goes towards funding City services. The remaining 38% goes towards other government agencies. The City collects tax on behalf of these groups, but doesn’t set the rates or control the amounts set by these other taxing authorities.
2017 average tax bill breakdown
Tax rate increase, municipal portion, 2008 - 2017
Last updated: 10/05/2017 3:03:04 PM