Kitchener approves 3.9 per cent property tax increase for 2024
Posted Dec 14, 2023 02:29:27 PM.
Last Updated Dec 14, 2023 02:29:31 PM.
On the heels of the budget for the Region of Waterloo getting approved on Wednesday night, Kitchener council is one step closer to following suit.
On Thursday, the City of Kitchener finalized its proposed 2024 budget during a meeting after receiving no amendments from councillors.
The fiscal plan comes with a 3.9 per cent increase in property taxes. On average, homeowners will be paying an additional $124 annually.
The city said its key priorities for the next year are supporting city services, focusing on infrastructure and making improvements, and advancing strategic priorities.
There’s also funding for additional traffic calming initiatives and trail connections in neighbourhoods, an ‘arena energy strategy’ as part of climate action efforts, and plans to replace two playgrounds.
The 2024 Kitchener budget is set to be formally adopted on Dec. 29.
The full breakdown of the proposed tax increases can be found below:
- Property taxes: 3.9 per cent, or $47 annually
- Water utility: 4.9 per cent, or $21 annually
- Sanitary sewer utility: 7.1 per cent, or $39 annually
- Stormwater utility: 7.4 per cent, or $17 annually
