Waterloo Regional council passes 2024 plan and budget

Waterloo Regional council officially approved the 2024 operating budget on Wednesday night after a day of deliberations that ended in a unanimous decision.

When the morning started, the expected property tax increase was 7.95 per cent. As the day progressed, this number was able to be adjusted and lowered explained Chief Financial Officer for the region, Craig Dyer.

“The overall change in the property tax levy of just under 9.3 per cent translates into a tax impact of 6.94 per cent. That’s due to the increase of the assessment base over the course of 2023 and that’s available in 2024, that increase was 2.18 per cent. The overall impact of the regional budget is at 6.94 per cent,” said Dyer.

For a residence in the region, this means that they will pay an added $165 this coming year in property taxes or $13.76 extra per month.

The Waterloo Regional Police Service will see a $228-million budget for 2024 which is an increase of 4.4 per cent from the previous year.

There was an attempted motion from Councillor Colleen James which aimed to eliminate $1.5-million from the police services budget but it was not moved forward and ultimately defeated 11 to 5.

A motion brought forward by Regional Chair Karen Redman will see the region make an initial investment of $10.2 million which will support the Plan to End Chronic Homelessness. This will be funded through both the 2024 property tax levy and the Tax Stabilization Reserve.

After the budget had been approved Redman added “This was not the result of last year’s budget. This was the result of us working together and working as a team. This is a unanimously supported budget, so I say to my colleagues well done.”

Kitchener Mayor Berry Vrbanovic brought foward the motion of an increase in funding for A Better Tent City which was also passed with a minor amendment.

With a larger number then ever of households in the region now depending on food programs Councillor Rob Deutschmann brought the motion of increasing the annual grant to the Food Bank of Waterloo Region to $1.5 million in 2024. This is more than double the funding for the Food Bank which only saw $744,000 in 2023 and this motion was also passed with amendments.

Grand River Transit will also see new bus wraps in order to increase advertising revenue by an additional $500,000. In 2024, five per cent of their fleet will be allowed to be fully wrapped while an added 10 per cent can now be partially wrapped.

The Region claims that this year’s budget aims at bringing essential services to those in the region while making it affordable in a time when many are struggling.

If you want to see more details on Waterloo Region’s 2024 plan and budget click here.