Cambridge council passes budget, increase near $6 per month for average household

Cambridge city council has approved its 2023 budget, which will see local tax go up 4.74 per cent.

This means for property assessed at $333,000, the homeowner would see an increase of $70.64 per year or approximately $5.89 each month.

Coun. Nicholas Ermeta, who chairs the city's budget committee, said in a press release Tuesday that he felt the budget "shows fiscal responsibility while meeting the needs of the community and providing opportunities for growth in the future."

The city's official media release said the budget allows for the city to maintain all existing service levels while also making investments to:

The city's draft budget initially looked at an increase of 3.93 per cent, which would translate to less than $5 a month for the average household.

Council later settled on an 4.7 per cent tax for this year after adding additional money toward items such as paying city staff a living wage.

Last Thursday, Coun. Scott Hamilton put forward a motion to add an additional 1.5 per cent to the budget to make up for revenue the city may lose because of the More Homes Built Faster Act, also commonly referred to as Bill 23.

Parts of the Bill 23 propose waiving some of the money cities would normally charge developers in an effort to build homes faster, but many municipalities have argued the bill would increase the financial burden on taxpayers.

On Tuesday, Hamilton withdrew his motion and instead, put forward a motion that would not increase the tax levy but  would ask staff to track and publish on the city's website how the provincial legislation financially impacts Cambridge.

Hamilton says he's still concerned about how the city's financial bottom line will be impacted by the More Homes Built Faster Act, but he worked with staff to "rejig" the motion.

"Before jumping into these waters, we need to know how deep they are and what's under the surface and we just don't know that yet," he said.

"The message to every resident is: There's not a single councillor around this horseshoe who doesn't understand how important the tax bill is and how much people are pinching pennies right now across the city," he said, adding that includes himself.

"When you put something forward like a tax levy or a tax increase, you don't do it because you think you're going to be the most popular guy in the room, you do it because you think it's what's best for the city ... I am concerned about us losing those valuable capital projects that we celebrate as a city."

Coun. Mike Devine, who voiced opposition to Hamilton's motion last week, supported the new motion to track how the provincial legislation impacts the city's finances.