Waterloo Region residents will see a 6.9% tax increase next year

Waterloo Region approved its 2024 budget at Wednesday night's council meeting.

The operating and capital budget, which includes costs for the Waterloo Regional Police Service, totals $2.1 billion.

"Like other municipalities, we are dealing with high inflation, interest rates and growth pressures," Michael Harris, chairman of the administration and finance committee, said in a media release. "This budget balances the needs of our growing community in a fiscally responsible way as we manage the pressure this growth puts on services and costs."

According to the district, residents will see a 6.9 percent tax increase in 2024. That means the average family will pay $165 more (or $13.76 per month) next year.
   The district said the budget includes investments for community priorities:

      $472 million for affordable housing, support for those experiencing homelessness, and investments for economic growth and opportunity
      $316 million for paramedical services, children's services, senior services, youth programs and the Waterloo Region Food Bank
      $815 million to grow transit, clean water and waste management
      $125 million for data and technology modernization, employee well-being and ensuring long-term financial sustainability

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