2024 draft budget to be presented to Cambridge City Council

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.