Region of Waterloo proposes nearly 5% tax hike for 2026
CBC
Regional property taxes are proposed to go up in 2026.
Regional council members will begin reviewing a proposed property tax rate increase of 4.94 per cent in 2026. That translates to a $96 average increase per household.
Regional staff will be presenting the preliminary plan for the 2026 budget at budget committee meetings on Nov. 18 and 19. The final budget day is scheduled for Dec. 16.
That proposed increase does not include the Waterloo Regional Police Services budget increase. Police are asking for an additional $20 million for a total of $272.6 million.
On Wednesday in a meeting to brief members of the media, staff said they achieved about $12.5 million in savings by "working differently/efficiently for the same or similar outcome," "adjusting service to reflect changing demand" and "leveraging financial strategies."
Coun. Michael Harris, who also chairs the budget committee, says they will be putting more money towards community needs.
"There is a massive need for affordable housing here in our community. We have a plan to continue to build more units, but there are a couple of projects that we've had to ... delay for further out," he said.
"There are roads that we know need to be taken care of that we would have loved to have dealt with this year that we're going to need to defer ... We're going to continue to deliver the paramount services that people expect today."
He says they kept the growing financial pressures on everyday residents in mind.
"The assistance that we provide families and rent supplements and the new affordable housing programs that we're launching to add more units in the community are all things that we expect to have," Harris said.
"And that small little increase that we've asked for this year will help offset those costs, but maintain services that are fair level."
About 43 per cent of the region's operating expenses are funded by regional taxpayers. About 33 per cent is funded through provincial and federal grants. The rest comes from fees, contributions from reserves and interest earnings.
Here are the proposed service adjustments that resulted in about $12.5 million savings:
When regional councillors began discussing the 2026 budget in May, they agreed to introduce a 5 per cent cap on any property tax increases.
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