Coquitlam council has approved the city’s 2026 budget, setting a property tax increase of 3.37%—about $93 a year for the average household—according to a notice released by the City on Dec. 9. With utilities included, the total annual increase rises to about $137, or roughly $2.67 per week. Coquitlam said it will continue to provide financial updates throughout the year through social media and at coquitlam.ca/FinancialPlan.
In the release, the City said the budget aims to balance rising affordability pressures with the need to maintain essential services and long-term financial stability. Investments in roads, utilities, parks and community facilities will be funded through a mix of property taxes, utility fees, development revenues, grants and reserve funds.
According to the City, cost-containment measures helped limit the 2026 tax increase. These measures include reducing tax-funded capital allocations, optimizing interest income, and accelerating debt retirement to redirect savings toward operating needs.
Coquitlam continues to face financial pressures driven by higher construction costs, which the City says are inflating at a rate closer to 5%—more than double the roughly 2% Consumer Price Index expected for households in 2026. Municipalities across the region are also seeing higher utility levies from Metro Vancouver, further contributing to upward budget pressures.
A report presented to council showed the City absorbed approximately $37.6 million in direct costs between 2021 and 2024 due to provincially downloaded responsibilities. These included service gaps in homelessness, mental health and addiction, community safety and social supports, new requirements created by provincial legislation, and reduced or stagnant provincial funding for shared programs such as library services.
The City said strong reserves and long-term planning allow it to continue supporting core services while investing in both new and renewed infrastructure. Growth-related projects, such as road and utility expansions and major community facilities, remain priorities as Coquitlam’s population increases. The budget also allocates funding for the upkeep of existing roads, utilities, parks and green spaces to avoid higher costs in future years.
Feedback from residents and businesses again identified affordability and reliable services as top priorities. In response, the City highlighted initiatives to limit taxpayer impacts, including repurposing vacant positions instead of hiring new staff, investing in long-term energy and water efficiency measures such as LED traffic signals and water conservation projects, and reallocating reserve funds toward higher-priority needs.
