New Westminster residents are facing a 2.42 per cent property tax increases – and more in the years ahead.
The finance department gave an overview of the city’s draft 2015 to 2019 financial plan at Monday’s council meeting. The 2015 budget includes a proposed 2.42 per cent tax rate increase.
In addition to the property tax increase, taxpayers are also facing a six per cent increase to the electrical utility rates, a six per cent increase to the water rates and a 7.5 per cent increase to the sewer rates. On the upside, residents will see an 8.5 per cent decrease to the city’s solid waste utility rates.
The City of New Westminster is aiming to finalize the financial plan and bring it forward for adoption by council later this month.
According to a staff report, tax rate increases in the range of 1.7 per cent to 3.1 per cent are expected in the coming years.
The City of New Westminster is accepting comments on the budget until Wednesday, April 8. Submissions can be emailed to [email protected] or faxed to 604-521-3895.
Mayor Jonathan Cote told the Record he anticipates there could be changes to the public process about the city’s budget in the years ahead.
“We are starting the task force on public engagement. I actually think there are opportunities to improve our budget process and better engage the public. Certainly for this year we hadn’t had an opportunity to do that,” said Cote, who struck the task force after being elected mayor in November’s civic election. “I am hoping in future years the work of that task force will inform some better ways, beyond the traditional ways, we engage with the budget.”
