City of Port Moody proposes 7% tax hike, but number likely to come down

Port Moody Mayor Rob Vagramov.
Port Moody Mayor Rob Vagramov. City of Port Moody

Don’t freak out quite yet — that’s the message from Port Moody Mayor Rob Vagramov.

The city’s draft report to its finance committee says the 2019 budget will increase by $2,997,500.

That means residents could expect a 7.36 per cent tax increase.

According to the report, the increase is due to a multitude of things, including a budget increase for the Port Moody Police Board and new services added to the base operating budget.

READ MORE: Port Moody mayor moves to kill proposed road through Bert Flinn Park

However, Vagramov says this is only a draft.

“At this point, we literally have not carried a single motion that’s related to this,” he said.

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Vagramov says that normally, the budget would be done by now, but because of the timing of the election, the city is behind schedule

“Usually, we come out with a number that we’ve already looked at, we’ve already vetted, we’ve already cut, and because of the election, we’re delayed by a number of months here, by getting the budget out the door,” he explained, adding that the budget still needs to go through financial meetings and a public consultation.

Residents can attend the consultation on Jan. 29.

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