An independent report has found property taxes in the City of Waterloo are among the highest in the province.
BMA Consultants, which compared 83 municipalities using 2010 tax data, found Waterloo's taxes are the highest of the 28 southwestern Ontario municipalities included.
In Waterloo, combined city and regional taxes come to $1,336 per resident. In Cambridge, that number is $1,196 and in Kitchener it's $1,079 per resident.
The study specifically looked at the taxes on a detached bungalow, which are:
- $3,328 in Waterloo
- $2,810 in Kitchener
- $2,798 in Cambridge
Waterloo homeowner Eckhard Pastrick thinks that at nearly $3,000 a year for his corner lot home on Erb Street East his taxes are rather high.
But he's not surprised, "In my personal opinion the city is spending a lot of money and something I don't think is really necessary."
While higher property values in Waterloo are one reason for the higher taxes, another is the city's debt for projects like RIM Park, among others.
In fact, the city puts about $5 million annually towards paying off the $56 million RIM Park debt.
The city says Waterloo's tax rate is lower than the overall average in the survey, and tax increases have been the lowest in this area for the past five years.
And according to the BMA study, Waterloo residents are in a better position to pay higher property taxes.
Waterloo residents have an average household income around $101,000. In Cambridge it is $85,000 and in Kitchener $80,000.
Paul Hettinga, acting CFO and treasurer for the City of Waterloo, says people want the services the city is providing, "Service drives taxes and we feel that we are providing very good value for the dollar."
For his part Pastrick isn't convinced. He thinks the city should "look a little deeper into spending, think a little more about it and not spend as much."
