Waterloo approves tax increase of just over two per cent
Posted Nov 21, 2017 04:52:56 AM.
This article is more than 5 years old.
Waterloo city council has approved an adjusted budget for 2018.
It includes a tax increase of 2.1 per cent which works out to roughly $27 more for the average homeowner.
It’s part of the city’s three-year budgeting cycle and actually represents a lower increase than the previous projection of 2.4 per cent.
The budget includes provisions to cover an expected increase in costs due to the hike in Ontario’s minimum wage, funding to cover labour and contractual obligations as well as funding toward the future East Side Library.
Councillors were also told last night the city’s growth rate of 3.74 per cent is the highest in the region this year.
Council still has to approve the water and sewer rates from 2018.
That’s expected to happen next month.
