2024 draft budget to be presented to Cambridge City Council
Posted Dec 19, 2023 06:49:01 AM.
Last Updated Dec 19, 2023 06:49:05 AM.
Cambridge City councillors will be presented the draft budget for 2024 on Tuesday.
The draft budget proposes a 5.76 per cent tax levy increase, which works out to an average of $90 a year. Water utilities are also projected to increase by 4.21 per cent, or an average of $46. In total, the average resident could be paying $1,650 in property taxes and $1,137 in water utilities.
Capital budget projections are $167.7 million to be used to build infrastructure projects. The operating budget for city services, not including water and sewer, is $163.5 million.
Region of Waterloo councillors voted on their 2024 budget last week, amounting to $2.1 billion with a 6.94 per cent tax increase.
Public delegations will be held on February 6.
Councillors will vote on the budget on February 8.
The draft budget can be viewed here.
