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Dec 05, 2017 Return to Headlines

Coquitlam’s 2018 Budget Addresses Growth and Demand

by Heather Escaravage |

COQUITLAM, BC, Dec. 5, 2017 – Coquitlam’s 2018 budget addresses community growth and increasing demand for services while keeping costs low for residents and business taxpayers.

On Monday, Dec. 4, City Council approved the first three readings of the 2018-2022 Five-Year Financial Plan Bylaw, which will focus new spending on transportation, parks, and eleven major capital projects including a Community Enhancement Blitz.

The result for the average homeowner will be an estimated $46 increase (or 2.06 per cent) to property taxes, which is the ninth consecutive year of declining tax increases in Coquitlam, and the lowest tax increase in over 20 years.

The 2018 budget also supports businesses, shifting one per cent of the commercial tax burden to residential properties in order to bring Coquitlam’s business taxes in line with rates in other communities.

The 2018 budget is based on Council’s strategic direction, a long-term City-wide perspective in financial planning, and public consultation in 2017, including the statistically-valid Citizen Satisfaction Survey conducted by Ipsos Reid, the Town Hall Meeting and the Citizen Budget online survey.

The budget includes additional operating spending to meet the demands associated with the City’s population growth and the community’s desire for enhanced programs and services in areas such as parks and recreation and public safety, as well as efficiencies in planning and development to meet the ongoing volume of development activity. 

The 2018 tax increase, along with a re-prioritization of existing spending, will pay for enhancements such as: 

  • $600,000 for replacement of assets (parks, recreation, transportation and fire),
  • $369,000 for service enhancements in Parks, Recreation and Culture Services,
  • $320,000 for service enhancements in Planning and Development,
  • $214,000 for service enhancements in Engineering and Public Works,
  • $201,000 in funding to support RCMP programs,
  • $187,000 in funding to support various administrative services,
  • $145,000 in funding to support training for Coquitlam Fire / Rescue, and
  • $237,000 in additional grant funding for enhanced services provided by Coquitlam Public Library, Place Maillardville Society, Place des Arts, Evergreen Cultural Centre and Coquitlam Heritage Society.

The 2018-2022 Financial Plan also includes a Capital Plan with a total spending of $387 million funded primarily by development with the majority coming from Development Cost Charges and reserves.

This includes funding to advance some significant capital projects, which will benefit the community now and into the future. In some cases, this funding is subject to future Council decisions related to the project scope, design and final budget.

These projects which will be implemented over the five year timeframe include: 

  • $15.2 million for major transporation projects,
  • $10 million additional funding for replacing the Place Maillardville Community Centre,
  • $10 million for improvements to City Hall and the Austin Works Yard,
  • $8 million for improvements to Town Centre Park,
  • $7 million for the renewal of Blue Mountain Park,
  • $5.7 million for a Community Enhancement Blitz,
  • $5 million for cemetery services including potential expansion to Robinson Memorial Cemetery,
  • $2.5 million to initiate planning for the Northeast Recreation Complex,
  • $2 million to start planning for the future of the RCMP building,
  • $1.35 million for a new Quint fire truck, and
  • $700,000 for a temporary northeast works yard.

The 2018-2022 Five-Year Financial Plan will receive fourth and final reading at the Regular Meeting of Council on Dec. 11, 2017. The Tax Rates Bylaw will be adopted in the spring of 2018, after the BC Assessment Authority provides information on property values.

For more information on the 2018-2022 Five-Year Financial Plan, including a copy of Mayor Stewart’s introductory remarks, visit the Financial Plan webpage.

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Media contact:
Michelle Hunt
General Manager, Finance and Technology
604-927-3531
mhunt@coquitlam.ca