2020-2024 Financial Plan

The City uses a two-year budget process for capital program to improve efficiency and facilitate long-term planning. It is renewed each year with a focus on the current year’s budget and taxes.

The budget is also part of a five-year financial plan that sets out the planned services and initiatives for the next five years, and how the City will pay for them.

Read more about the budget development process.

1. Learn About the Budget

Draft Budget Details

Growth and reduced debt costs will contribute to another year of low tax increases in Port Coquitlam in 2020.

As in past years, the draft budget includes funding for long-term infrastructure replacement, and the construction and operation of the Port Coquitlam Community Centre, which will include the opening of the new leisure pool and aquatic area in March 2020.

The draft $110-million operating budget includes the following:

Proposed Ongoing Enhancements:

* assessed at $735,517

There will also be a proposed one-time enhancement of $19,000 for arts and culture activities in downtown public spaces, including for Christmas in Leigh Square and a six-month artist-in-residence at Lions Park with an eco-art focus. This enhancement is funded through the arts & culture reserve so will have no impact on 2020 taxes.

Other 2020 budgeted activities include:

  • Opening the new leisure pool and aquatic services this spring at Port Coquitlam Community Centre,
  • Rehabilitating 4.6 kilometres of road and more than 3.6 kilometres of utilities,
  • Completing various traffic calming, pedestrian and cycling safety projects,
  • Updating the Master Transportation Plan,
  • Reviewing development cost charges,
  • Improving development application turnaround times,
  • Working to increase arts and culture activities and festivals in the downtown and community,
  • Creating a new community garden and Lions Park whimsical garden,
  • Reviewing policing and bylaw enforcement services and
  • Advocating and planning for SkyTrain.
Factors Affecting the Budget

Council Priorities

The draft budget centres around the three priorities that Council established in fall 2019 to guide budgets and decisions from 2020-22:

  • Improving customer service
  • Investing in infrastructure
  • Enhancing community safety

These priorities translate into budgeted activities with tangible results, organized into six key focus areas:

  • Managing City finances & assets responsibly
  • Planning for a healthy environment and a changing climate
  • Planning for our future
  • Creating a vibrant downtown
  • Focusing on safety
  • Improving transportation & mobility

Overarching all of this work is a continued focus on getting the basics right – planning and providing the core municipal services that matter to you – and on spending our taxpayers’ money responsibly

Efficiencies and Savings

Approximately $1.06 million in revenue is anticipated from development in 2020, primarily from industrial growth in the Dominion Triangle area and along Kingsway Avenue.

Additionally, savings on interest costs in 2020 for the Port Coquitlam Community Centre and Coast Meridian Overpass in 2020 will fund the typical additional one per cent levy ($644,000 in 2020) for the long-term infrastructure reserve plus another $371,000 in infrastructure funding.

Staff were also able to identify a net $166,250 in savings for 2020 during department efficiency reviews.

Combined, the revenue and savings were enough to offset the rising inflation and costs to maintain existing service levels, along with the $447,150 in proposed enhancements above.


Inflationary pressures include:

  • Increasing staffing costs based on labour contracts and Council policy
  • Increased costs for ICBC and natural gas
  • General inflationary costs for contracts
Where Your Taxes and Levies Go

Your taxes and levies pay for a wide variety of important services.

Taxpayer Impact

The average Port Coquitlam home assessed at $735,517 (the average of all home types) will pay 0.48 per cent more for municipal taxes in 2020.

Businesses will also fare well: industrial taxes will go up 0.96 per cent and commercial taxes will decline by 0.11 per cent.

Your property’s assessed value also plays a role in how much tax is paid. See the next section for details.

What Will I Pay (Proposed in 2020)?

Pay Monthly!

Sign up for the City’s Prepayment Plan to pay tax and utility bills in easy monthly installments. Estimated monthly amounts are shown in the charts below.

Please note:

  • The information below represents only the City’s portion of taxes. The property tax bill will also include regional and provincial taxes (e.g. schools, TransLink, Metro Vancouver).
  • The figures provided are estimates and meant to provide a general sense of the property taxes and utilities to be paid.
Property Assessment Impact

A property’s assessed value determines its share of taxes. Overall, Port Coquitlam residential assessments decreased an average of 8.97% from last year. However, this does not mean your property tax bill will decrease by 8.97%.

Your increase will be based on how the change in your home’s assessed value this year compared to the average change for other Port Coquitlam homes (-8.97%).

Check your assessment notice to see how much your property’s assessed value has changed.

Impact of Assessment on Your 2020 Tax Increase

If your home’s assessed value:

  • decreased by 8.97%, your tax increase will be 0.48%
  • decreased by more than 8.97%, your tax increase will be less than 0.48%
  • decreased by less than 8.97%, your tax increase will be more than 0.48%

Business Plans

Department business plans form the basis for each new budget. 

Provide Your Feedback

budget box header

The public is invited to comment year-round on the City's Financial Planning process through:


Tel 604.927.5280
Email budget@portcoquitlam.ca

Location and Mailing Address

City Hall, 1st Floor
2580 Shaughnessy Street
Port Coquitlam BC  V3C 2A8

Business Hours: 8:30 am to 4:30 pm, Monday to Friday (excluding statutory holidays)