The City of New Westminster’s draft financial plan includes a 2.98 per cent tax hike in 2017.
City staff recently presented an overview of the 2017 to 2021 draft financial plan to council.
“We are still at the preliminary stage at the budget process, but we have actually moved the budget process up earlier this year. We are hoping to get final approval in that February time frame,” said Mayor Jonathan Cote. “Although that (2.98 per cent) budget number isn’t set in stone and we are going to be working our way through that process, it gives you a rough guide of what we are looking at given some of the demands that we are dealing with in this budget cycle.”
Cote said the city has moved up its budget cycle to better align with the city’s year-end budgets. The reports now being considered by council have typically come forward in February in past years.
“In the past, usually our budget cycle ends in that May time frame. We were one of the later municipalities. A lot of other municipalities, even December, January are approving their budget,” Cote said. “I think we have learned there are a lot of advantages to getting your budget cycle more aligned with the year that way.”
According to Cote, council will be having several more meetings to discuss the budget, and the public will still have an opportunity to provide input.
A staff report states a 2.98 per cent increase would translate into an increase of about $85 to the average household (a single-family home assessed at $1 million) and about $657 to the average business property owner.
The draft 2017 capital budget includes $52.7 million for projects such as the Front Street parkade and mews project ($4.1 million); Canada Games Pool/Centennial Community Centre upgrades ($3 million); city hall upgrades ($3.5 million); uptown library upgrades ($2.3 million); a new animal shelter/tow yard facility ($3 million.) More than $10 million is proposed for sustainable transportation initiatives aimed at walking, managing roads, creating livable neighbourhoods, and cycling and greenways.
