Coquitlam homeowners face another $339 for property taxes and utilities next year, if council OK’s the new funding requests put forward today, Oct. 22, at its finance meeting.
According to a city staff proposal, the property tax increase for 2025 is projected to be $186, or a 7.21 per cent hike, if the budget and wish lists are approved in December.
And added to the planned property tax lift would be $153 more for water, sewage and drainage for residents in single-family homes, or $140 for condo and townhome owners.
The biggest utility change is for the new North Shore Wastewater Treatment Plant Program, a $3.86-billion capital project handled by Metro Vancouver that will see Coquitlam residents pay an additional $76, if council OK’s a plan to dip into a contingency fund to offset the true fee of $102 for the average household.
During her presentation, Gorana Cabral, Coquitlam’s finance director, urged the public to visit the Metro Vancouver website to learn more about the project and its cost overruns.
‘Many, many challenges’
Held without Mayor Richard Stewart, the preliminary budget talks started this morning with chief administrative officer (CAO) Raul Allueva flagging the “many, many challenges” facing Coquitlam.
“This is not a business-as-usual budget,” he warned twice.
While he said Coquitlam is in good financial shape and responding to external pressures, Allueva urged council to be aware of the “volatile environment” with inflation, the rising prices for labour and materials and the post–pandemic surge in the cost-of-living.
“We need to be nimble. We need to be flexible. We need to be responsive,” Allueva said, citing the new provincial housing rules, as well as changes around accessibility and emergency management measures, that he said are creating “huge impacts on the city.”
For the draft 2025 budget at $689 million, the new funding requests from staff include $2.6 million more for such corporate items as:
- $1.98 million for infrastructure sustainability
- $249,300 for the tourism division
- $182,000 for the transit-oriented development application team
- $142,000 for the extreme weather operating budget
- $75,000 for the election reserve
There are also five grant requests, valued at $72,400, from nonprofit organizations to offset their property taxes or to pay for their higher operational costs and equipment:
- $40,000 for the BC Christian Academy
- $25,000 for the SHARE holiday hamper program
- $3,000 for Meals on Wheels
- $2,500 for the Coquitlam Sports Hall of Fame
- $1,900 for Coquitlam Search and Rescue
Cabral told the finance committee that staff based the 2025 draft budget on public feedback this year and created a framework to navigate the “tumultuous” fiscal waters.
According to a budget poll taken in September, most residents signalled they want to keep things the same in Coquitlam — meaning no civic program or service cuts, she said.
Still, despite increasingly complex issues, a high interest rate and uncertainty on growth and revenue streams, Coquitlam “continues to demonstrate resilience,” she said, and is focused on long-term sustainability “to respond and adapt the ever-changing landscape.”
Besides Allueva, the finance committee also heard presentations today from deputy CAO Michelle Hunt and the department heads for parks, planning and corporate services.
Tomorrow, Oct. 23, the leaders for community safety, Coquitlam RCMP, Coquitlam Fire/Rescue, engineering, Coquitlam Public Library, Place des Arts, Evergreen Cultural Centre and Coquitlam Heritage will come to the podium to share their budgets.
The first reading of Coquitlam’s 2025 financial plan bylaw is expected on Dec. 2.
Coquitlam’s budget talks come after Port Moody City Hall last week warned about an 11 per cent property tax and utility increase next year — about $339 more for single-family homes, including $72 per parcel for the North Shore Wastewater Treatment Plant.
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