Report projects 10 per cent hike for Waterloo region taxpayers next year
CTV
Regional councillors are using words like “alarming” and “staggering” to describe it.
Regional councillors are using words like “alarming” and “staggering” to describe it.
In a report going to council, regional staff estimate a 10 per cent property tax increase will be needed in next year’s budget to maintain current service levels and continue spending on strategic priorities.
That doesn’t include policing, which accounts for the single priciest item in the region’s budget.
While the projection is just a starting point and councillors are optimistic they can bring the number down, they admit it will be a major challenge.
“[It’s] no doubt alarming and I think residents are concerned as well,” Coun. Michael Harris told CTV News. “We saw significant increases last year.”
The region raised property taxes by 4.56 per cent in 2022. This year they jumped by 8.5 per cent.
“Right now, it’s a staggering number on top of what was a large number last year and that’s concern,” Coun. Rob Deutschmann said.
