Status Quo For Waterloo’s 2011 Budget
Posted Dec 29, 2010 12:13:41 PM.
This article is more than 5 years old.
The City of Waterloo is planning a status quo budget for the upcoming year.
Chief Financial Officer Bob Mavin says no new hires and no expansion will help keep the tax rate increase in line with the rate of inflation.
The proposed tax rate increase is nearly 1.9 percent, slightly higher than last year. For residents, that amounts to an extra $17 on the average property tax bill.
Water and sewer rates are also climbing, about $69 per household.
The city is also working to lower its debt over the next few years, from $66 million to $54 million.
The total operating budget is $145 million, with the capital budget at nearly $45 million.
Budget discussions at the new council table will begin on January 10th.
