2023 budget consultation

As they consider the proposed 2023 budget, Council wants to hear from Port Moody residents and business owners. How should the City balance service levels and tax rates? What do you think of the proposed funding levels for specific service areas? Visit engage.portmoody.ca to fill out our budget survey today. 

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 will help Council find that balance and provide the best value for your tax dollars. 

Engage Port Moody, our public engagement hub, is your source for information on the 2023 budget. On our project page you can:

  • learn more about the budget process and the City’s proposed net operating expenses for 2023;
  • read the City’s Budget Guide and the full 2023-2027 Draft Financial Plan;
  • take a look at answers to frequently asked questions or ask a new question; and
  • provide valuable input by completing our community survey online by Sunday, March 19, 2023.

If you prefer to fill out the survey on paper, you can pick up a copy at City Hall (100 Newport Drive). Your paper survey must be returned to City Hall by Friday, March 17, 2023. 

In 2023, the City is proposing to collect $54,240,000 – approximately $5,496,000 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 11.33 per cent. This means in 2023 the average household would see an increase of approximately $296 for the year – that’s $5.69 per week or $0.81 per day. 

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 WorkSafeBC premiums; employee benefits; insurance; improvements to services, facilities, and infrastructure; and increased demand for City services. Nearly eight (7.99) percentage points (equal to $3,866,000) of the proposed 11.33 per cent tax rate increase would be used to fund increases to the operating budget to maintain the same levels of service provided in 2022. One percentage point (equal to $485,000) is for the Asset Renewal Levy, which funds the replacement of existing critical infrastructure, amenities, and facilities. And just under one (0.93) percentage point (equal to $450,000) is due to the 2021 change in use of property owned by Mill and Timber Products Limited, which moved from the heavy industry tax classification (Class 4) to business/other (Class 6). The remaining percentage point (1.41), representing net new funding of $687,000, would address increased demand for services. 

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 2023-2027 Draft Financial Plan:

  • Water Network Infrastructure Asset Renewal Program
  • Major Road Network (MRN) Road Rehabilitation Program
  • Ioco Road corridor reconstruction (infrastructure)
  • Ioco Road corridor reconstruction (water)
  • Local Road Network (LRN) Road Reconstruction Program
  • Stoney Creek sanitary sewer rehabilitation
  • Alderside foreshore sanitary sewer assessment
  • Storm Drainage Capital Infrastructure Program
  • Recreation Complex Arena 1 dressing rooms
  • Works Yard building envelope replacement 

The projects listed above represent nearly 54 per cent (or $10 million) of the proposed capital budget. You can read the full list of proposed capital projects in the Draft Financial Plan

We encourage you to learn, share, and help shape your city – participate today at engage.portmoody.ca. Council will consider input received from the public in April 2023 as part of their budget deliberations. Municipalities must set their property tax rates by bylaw before May 15 of each year.