2015

Mar 03, 2015 Return to Headlines

Coquitlam Presents 2015 Budget and Five-Year Financial Plan

by GS GS |

COQUITLAM, BC, Tuesday, March 3, 2015 – Coquitlam Council has approved the first three readings of the 2015 budget, along with the 2015-2019 Five-Year Financial Plan and Capital Program.

The 2015 budget seeks to keep property taxes low while meeting the increasing demands of a growing community, along with the increasing responsibilities of municipal government. This year’s increase of 2.34% is the smallest increase since 2005, and the sixth consecutive year of declining increases.

With the increase, Coquitlam will gain numerous additional or improved services, for example:

  • Six new members of the Coquitlam RCMP who will be part of a Coquitlam-specific team designed to boost patrol and police response resources in crime hotspot areas, or during periods of high call volume.Improved roadways and infrastructure.
  • Increased pedestrian safety through the continuation of the walkability and bikeability programs, especially around middle schools.
  • Investments to facility capital maintenance to take care of existing resources.
  • Investments to parks, recreation and culture to support enhancements identified in the Parks, Recreation and Culture Master Plan.
  • As well as numerous other initiatives aimed at improving neighbourhoods, customer service, and business.

Without the largest areas of new spending – new police officers and parks and facilities spending – the tax increase would be about 0.6%, significantly less than the rate of inflation.

However, these new spending areas will bring about much-needed resources for the community.

Additionally, in order to help maintain a competitive advantage in attracting business to Coquitlam, the budget will continue the tax shift between residential and commercial properties. After this year’s shift, the property tax rate will be 2.71% for residential properties, and 1.71% for commercial properties.

For more information on the Five-Year Financial Plan, visit www.coquitlam.ca/budget.

Click here to read a full copy of Mayor Stewart’s introductory budget remarks.

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Media contact:
Sheena MacLeod
Director, Financial Services
604-927-3031