Draft budget for Guelph shows property tax increase capped below 3 per cent

Homeowners in Guelph should have more money in their pockets next year, that is, if the draft budget for 2025 gets approved.

A draft of the City of Guelph’s budget for next year shows an impact on property taxes is capped at 2.63 per cent. A previously-adopted budget for 2025 had that increase at 9.8 per cent, prompting Guelph’s Mayor Cam Guthrie to use his Strong Mayor Powers back in February to cap it at 4 per cent. The move reduces that increase by $15.5 million.

Guthrie posted a video on social media saying the city has achieved a property tax impact of only 2.59 per cent.

The draft budget for 2025 will be approved Nov. 27. Public Town Hall meetings will be held over the coming weeks for the public to engage in as well as a dedicated delegation opportunity on Nov. 19.

Guthrie added they won’t know final details until January 2025, following budget approvals of outside boards and shared services that take up nearly 35 per cent of overall city costs.

More details on the draft budget can be found on the city’s website.