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Feb 26, 2019 Return to Headlines

Coquitlam’s 2019 Budget Provides for a Growing Community

by Kevin Henkelman |

COQUITLAM, BC, Feb. 26, 2019 – Coquitlam’s 2019 budget balances the growing needs of a changing community, while proposing one of the lowest tax increases in the region.

2019 Five-Year Financial Plan Bylaw

Monday, Feb. 25, City Council approved the first three readings to the 2019 Five-Year Financial Plan Bylaw.

The plan provides a number of new initiatives including new and revitalized parks, transportation investment, public safety improvements, and new capital projects to benefit the entire community.

However, the plan also recognizes the increasing costs, including those from other levels of government such as the cost of the new Employer Health Tax, which adds an additional $700,000 to this year’s budget.

The 2019-2023 Financial Plan incorporates the following average property tax increase:

Municipal Cost Increases
2.05%
Employer Health Tax (net impact)
0.51%
TOTAL
2.56%

Recognizing that commercial taxes have been relatively high in comparison to other jurisdictions, Council has also approved the continued 1% tax shift of between commercial and residential property taxes.

For the average homeowner, this works out to an estimated increase of $57 in 2019.

The 2019 budget is based on Council’s strategic direction, a long-term City-wide perspective in financial planning, and public consultation in 2018, including the statistically-valid Citizen Satisfaction Survey conducted by Ipsos Reid, the Town Hall Meeting and the Citizen Budget online survey.

What’s In Store for 2019?

Coquitlam will see a number of new benefits for this increase, as well as from other funding sources including development funding and reserves.

Highlights from the 2019 plan include:

  • Four new officers for the RCMP.
  • New parks such as Riley Park, and revitalizing existing parks such as Town Centre, Cottonwood, Brookmere, and Phase 3 of the Park Blitz Program which revitalizes older parks in Southwest Coquitlam.
  • The return of the Adventure Playground in 2019, as well as the Cultural Summit.
  • Support for the Tourism, Economic Development, business retention and Business LinQ programs.
  • Approximately $457 million over the next five years for capital infrastructure including the new YMCA facility and a Park n’ Ride in Burquitlam, improvements to Buchanan Square, improved streetscapes through the Frontage Works Program and aesthetic and safety improvements through the Neighbourhood Enhancement Blitz.
  • New community plans and strategies to support the growing community including the City Centre Area Plan, a Community Engagement Strategy, the Housing Choices Review and Southwest Housing Review, as well as implementing the Housing Affordability Strategy and initiating a child care strategy. 
  • New community engagement tools and enhancements to technology such as the Parks, Recreation & Culture online registration system, City services mobile app, increased and improved Wi-Fi services, enhanced e-services and a new website. 

Next Steps

The 2019-2023 Five-Year Financial Plan will receive fourth and final reading at the Regular Meeting of Council on March 4, 2019.

For more information on the 2019-2023 Five-Year Financial Plan, including a copy of Mayor Stewart’s introductory remarks, visit www.coquitlam.ca/financialplan.

Media contact:

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

 

Media Inquiries

Manager, Corporate Communications - Kathleen Vincent
Phone: 604-927-3019
Cell: 604-218-1319
Email: media@coquitlam.ca