Waterloo taxes to rise next year
Posted Dec 14, 2009 09:18:37 PM.
This article is more than 5 years old.
Councillors decided on a 1.57 percent tax increase during budget talks yesterday (MON).
In 2007, when the city of Waterloo came up with its three year budget, Councillor Ian McLean says it put the tax rate increase for 2010 at 3.3 percent.
But by transferring less money to its capital reserve fund and reaching labour deals for less than budgeted, council was able to get the tax hike down further.
McLean says there will be no cuts made to services or staff, but a hiring freeze will continue.
The city’s water and wastewater rates are also going up by 51 dollars or just over 7 percent.
And starting in 2011… funding for storm water management will not come from taxes, but will be based on how much pressure each property owner puts on the system.
That means industrial users will pay more than say, the owner of a bungalow.
McLean says the change will take 4 percent off property owners’ tax bills.
The city’s capital budget for next year is worth 32 million six hundred thousand.
Councillors decided on a 1.57 percent tax increase during budget talks yesterday (MON).
In 2007, when the city of Waterloo came up with its three year budget, Councillor Ian McLean says it put the tax rate increase for 2010 at 3.3 percent.
But by transferring less money to its capital reserve fund and reaching labour deals for less than budgeted, council was able to get the tax hike down further.
McLean says there will be no cuts made to services or staff, but a hiring freeze will continue.
The city’s water and wastewater rates are also going up by 51 dollars or just over 7 percent.
And starting in 2011… funding for storm water management will not come from taxes, but will be based on how much pressure each property owner puts on the system.
That means industrial users will pay more than say, the owner of a bungalow.
McLean says the change will take 4 percent off property owners’ tax bills.
The city’s capital budget for next year is worth 32 million six hundred thousand.
