Waterloo City Council approves 2019 budget
Posted Feb 12, 2019 10:21:00 AM.
This article is more than 5 years old.
After a long session, Waterloo City Council approved the 2019 budget and with it, a property tax increase of just under 2.2 per cent.
That comes out to $28 for the average household. According to Finance Chair Jeff Henry it also comes out to less than the rate of inflation.
“Council in Waterloo has always tried to look at the rate of inflation as an important guide post in setting our budget policy and today was no different.”
He compares the two halves of the budget to maintaining a home.
“Capital projects are like replacing your roof. You do it every once in a while. But the operating budget, the property tax levy, those are buying the grocery every week, paying the hydro bill. So keeping your household running is the same as keeping a city running.”
Aside from the day to day operational cost, there are minor service improvements in the operating budget. There is an increases to park maintenance, further improvements to the online civic forum, Engage Waterloo and some additional positions being hired.
In the Capital budget, a number of major projects are in the works, coming out to $105 million in total. A large investment has been place towards the Waterloo Memorial Recreation Complex addition and expansion. Other investments included the addition of an east side library and general road reconstruction and paving.
