Property taxes going up 1.5 per cent in Waterloo

Waterloo City Council has approved the 2015 operating and capital budgets, along with the 2016 to 2024 capital forecast.

The average property tax rate increase for 2015 is 1.53 per cent. That works out to just under $20 dollars for the average homeowner.

Officials say that’s below the current 2.2 per cent core rate of inflation.

“It’s never an easy task to find the right balance between delivering the services our residents expect and finding new efficiencies in order to keep our tax rates low,” said Councillor Jeff Henry, chair of the finance and strategic planning committee. “I am very pleased that this new approved tax rate increase that is well below the rate of inflation and below the increases that other local area municipalities are contemplating.”

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