Cambridge budget up for final approval
Posted Mar 5, 2012 04:22:22 PM.
This article is more than 5 years old.
Cambridge city councillors will meet tonight with the city’s 2012 budget up for final approval.
City staff have come up with two options for consideration. The first is the budget that was approved by the Budget Task Force on February 2nd with a tax increase of 3.74%, or about $42 extra for the average household.
The second option includes a list of potential reductions that, if passed, could bring the tax hike down to 3.4%, or an extra $38 on average.
Either option would give Cambridge the biggest hike of the region’s three cities this year. Kitchener approved a 2.4% increase and Waterloo, a 2.2% hike.
Last year, taxes in Cambridge went up by 3.55% at the same time council approved a plan to borrow $5.1 million for the new Drayton Entertainment Theatre.
Tax increases have been on an upward trend in Cambridge where the tax hike in 2010 was 2.8% and in 2009 was 1.9%.
