Cambridge staff begin preparing 2025 budget; tax increase on the table
Posted Jun 6, 2024 12:09:48 PM.
Last Updated Jun 6, 2024 12:09:53 PM.
Cambridge City Council has asked their staff to begin preparations for the 2025 budget.
The initial proposed property tax increase currently sits at 8.81 per cent, or an average increase per household of $147 a year. Water and sewer rates are also expected to increase by four per cent as well, or an extra $46 a year on average.
Cambridge Mayor Jan Liggett said during Tuesday’s council meeting the number is a starting point, she is confident it will come down by the time council votes on it.
“There are items that we just haven’t had to deal with before that now we have to,” Liggett said.
She noted that the region is spending over $200 million on items that should be paid for by other levels of government.
“Those are funds that could be better spent on other things if the right levels of government would just do what they’re supposed to do.”
Ward 1 Councillor Helen Shwery said she was happy to see that staff will be looking at ways to bring down the tax levy.
“An 8.81 per cent property tax increase will be very difficult for people in my ward to handle,” said Shwery.
The current timeline for the budget shows a public consultation survey will be available this summer so staff can build them into the budget. Staff will also be looking at forecasted operating budgets for 2026 to 2028 and capital forecasts for 2026 to 2034.
Regional council this week also passed a motion to direct their staff to look at finding ways to bring down a proposed tax increase, which sits at 12.8 per cent.
Cambridge city staff is expected to have a draft budget prepared for council review by the fall.
