Property taxes to rise in Waterloo after council approves 3-year budgets
Water rates also set to rise by approximately $44 in 2020
Waterloo homeowners will pay approximately $44 more for each of the next three years after city council approved three-year operating and capital budgets on Monday.
Councillors approved an annual property tax rate increase of 1.8 per cent for base services, along with an average annual increase of 1.5 per cent for things like changes to service and investment in infrastructure.
The city says that means a Waterloo home with an average assessed value of $394,400 will pay $44.13 more each year in property taxes for a total of $1,421 annually in property taxes by 2022.
Water, sewer and stormwater rates will also be going up starting this month. Council approved a 3.9 per cent increase for 2020, with 1.4 per cent going to the region and 2.5 per cent going to the city.
The city says the average household will see an increase of $43.71 this year.