The City of Burnaby is seeking your input on the proposed 2020 financial plan, which currently includes a 3.5% tax increase.
Council heard from finance director Noreen Kassam last month about the city’s proposed budget for this year, and now staff wants to hear input from residents and stakeholder groups.
In the proposed financial plan, the city is looking at a 6.1% increase in spending, totalling roughly $813 million. That includes a 7.2% increase in capital spending and a 5.6% increase in operating expenses, the larger overall portion of the two budgets ($511 million).
The city is also looking at a 1% increase in waterworks utility fees and a 2% increase in sanitary sewer fees.
Since the increase in revenue sources won’t cover the full increase in spending, the city will also have to pull from its deep reserves.
As it stands, the city’s proposed tax would add up to an estimated $63 increase, for a total of $1,854, for the average residential property, valued at $1.07 million. For businesses, that increase would add up to $978, for a total of $28,925.
More details on the budget can be found online at burnaby.ca/Our-City-Hall/Financial-Reports. The city will be taking written submissions until March 20 by email at [email protected].
A more finalized version of the plan will go before council on April 27 for more debate ahead of its May 15 approval deadline.
