Cambridge residents react to proposed 5.8 percent property tax hike

“It has to stop or we’re all going to lose our homes. It’s got to stop.”

Cambridge residents had the opportunity to offer their suggestions on the 2024 draft budget proposal at council’s Budget & Audit Committee meeting Tuesday.

The proposed property tax hike is 5.76 per cent in 2024, followed by forecasted increases of 7.5 per cent in 2025, 5.1 per cent in 2026 and 5.7 per cent in 2027. In last year’s budget, the tax increase was 4.7 per cent.

If property taxes continue to rise as projected until 2027, they will have grown by almost 50 per cent from 2019.

Delegate John Waylett told the councillors that he’d like to see a plan to get property tax increases down to the level of inflation by 2028.

“City property tax increases are rising faster than people’s incomes and faster than inflation and this is not sustainable. We all know that,” said Waylett representing the Property Taxpayers Alliance. “I think you need to take a hard look at these numbers in the budget and really understand what they’re implying.”

The total tax levy in the 2024 draft budget is $117,166,550. The increase of 5.76% is broken down into two categories: Budget required to maintain existing service levels (4.25 per cent) and net impact of growth to budget (1.51 per cent).

Waylett added that the service budget should be reduced to 3.5 percent and that the responsibility of the future growth should not be on the current taxpayers at all.

Scott Sinclair lives in Cambridge as a chartered accountant. He said he’s hopeful that Cambridge can introduce a tax decrease instead of an increase.

“The Bank of Canada’s inflation target is two per cent. If you’re over that, you’re part of the inflation and high cost of housing problem and not part of the solution.”

The Fashion History Museum in Hespeler also presented to council. Director and Curator of the Fashion History Museum Jonathan Walford is looking for about $46,000 in debt owed to the city for unpaid rent to be forgiven and for rent be charged at a rate of $1 per year.

“No charitable, non-profit museum in Canada pays rent,” said Walford. “Zero, zilch, none.”

Budget deliberations continue Thursday, with a meeting scheduled next Tuesday if necessary.