The City of Port Coquitlam has cancelled its proposed property tax increase and extended its payment deadline due to the coronavirus crisis.
City council voted Tuesday to eliminate a proposed tax increase – originally 0.48 per cent for the average home assessed at $735,185. It will also give property owners until Sept. 2 to pay their 2020 taxes and utilities and waive fees for non-sufficient funds.
“We’ve had thousands of people in our city who’ve lost their job, we’ve had hundreds of businesses in Port Coquitlam that have had to close their doors,” Mayor Brad West said.
“Everyone in our community is having to tighten their belts right now and make really responsible financial decisions and the city cannot be immune from that. The city has to follow suit.”
He said the city plans to balance the budget by reducing non-essential spending and placing a hold on external hiring except for critical positions.
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