Waterloo Region facing proposed 8.3 per cent tax impact in 2024
Posted Nov 10, 2023 02:40:34 PM.
Last Updated Nov 10, 2023 04:06:42 PM.
On Wednesday at the Strategic Planning and Budget Committee meeting, Chief Financial Officer for the Region of Waterloo Craig Dyer revealed a proposed 8.3 per cent tax impact for residents.
This increase would include the $11 million dedicated to ending chronic homelessness that was approved in principle this week, along with the proposed police budget which represents a $16.3 million levy increase.
“Including the plan to end chronic homelessness and the police budget we’re currently sitting at an overall tax levy position of a $71.3 million levy increase, which is an 8.3 per cent tax impact,” stated Dyer.
He continued by saying, “That’s based on assessment growth of 2 per cent. We’re getting close to being able to finalize the assessment growth figures and we anticipate being able to report back to you at the meeting on November 29 with the final assessment growth for 2024.”
On November 29, the last budget review day will take place along with a public input session. The final budget day is set for December 13.
You can find find further details about the 2024 Budget plans here.
