Property taxes going up 3.1 per cent in Waterloo

Property taxes in Waterloo will go up by 3.1 per cent in 2022.

City council passed next year's budget on Monday.

For the average homeowner, the increase will mean around $43 will be added to their property tax bill in 2022.

The city says the budget also includes a tax deferral program for residents who may experience COVID-related financial challenges.

New initiatives for 2022 include:

• Funding for the future operating expenses of the new Eastside branch library and for existing library branches
• Funding to allow the city to fully transition to paying a living wage
• Increasing preventative maintenance funding to help assets reach their intended useful life and reduce the risk of premature asset failure
• Public Square furnishings and equipment replacement
• Ball diamond upgrades
• Urban forest strategy
• Northfield Drive multi use trail – Bridge Street to University Avenue

Council also directed staff to consider opportunities to accelerate transformative climate action in the 2023 budget plan.