Hold on to your household budget: Region of Waterloo property taxes could go up almost 13% in 2025 budget

June 4, 2024

Your Region of Waterloo property taxes could be going up by almost 13% in next year’s budget.

A statement from the Region blames it on population growth and efforts to deal with homelessness, transit, roads, and paramedic services.

The possible tax hike of 12.8% does not include the Waterloo Regional Police Service’s budget.

The numbers are set to come up at Tuesday’s Administration and Finance committee meeting at 4:00 p.m.

Regional chair, Karen Redman, says “Growth is coming whether we plan well for it or not.”

She says council can not support future generations without support from the provincial and federal government, adding, “Property taxpayers cannot shoulder the full cost of this growth. We need a new deal like other rapidly growing regions in Ontario and across Canada.”

A statement from committee chair, Regional councillor Michael Harris, says the population of the Region last year alone grew by as many people as live in the whole city of Stratford.

Members of the provincial and federal government will be invited to the June gathering in Waterloo Region of the Association of Municipalities of Ontario.

The statement from the Region says those reps will be pressed to come up with a new fiscal funding framework for Waterloo Region, with the current framework described as “outdated revenue tools” in a rapidly growing area.

Staff will work on the budget all summer, and Harris says there will be decisions coming for council that will not be easy.

He says council must invest in essential services that people rely on, while considering the affordability crisis.

Council is set to get its first look at the 2025 budget with a staff presentation on October 16, and final approval is set for December 11.

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