Kitchener City Councillors take a look at 2024 operating budget
Posted Nov 20, 2023 06:44:26 AM.
Last Updated Nov 20, 2023 06:47:24 AM.
Kitchener City Councillors will hear a presentation on the city’s operating budget for 2024 at a committee meeting on Monday morning.
The proposed operating budget is $254 million. Some of the key priorities addressed in the budget include supporting city services, focusing on infrastructure and advanced strategic priorities.
62 per cent of the city’s revenue for the budget comes from property taxes, which is expected to bring in $156 million.
On average, Kitchener residents can expect to pay on average $124 more a year. This is due to increases in property taxes (3.9 per cent), water utility (4.9 per cent), sanitary sewer utility (7.1 per cent) and stormwater utility (7.4 per cent).
The City unveiled it’s 2023-2026 Strategic Plan earlier this month and has allocated $5.5 million in next year’s budget toward those goals.
Councillors will hear about the capital budget and any public input next week on November 27. Kitchener Mayor Berry Vrbanovic will proposed the whole budget on December 4.
The draft budget summary can be viewed here.