Region of Waterloo to raise taxes by 8.5%, about $187 for the average property

The region of Waterloo has approved its total operating and capital budget for 2023 and it comes with a tax increase.

After a 12-hour marathon council meeting, councillors settled on a $1.9 billion budget with an average tax rate increase of 8.5 per cent.

This works out to be about $187 for the year for the average property or about $15.60 per month.

The budget includes an $18 million increase to regional police, that they say will allow them to hire 19 new officers at a cost of about $50 to the average homeowner.

There was a last minute push to reduce the increase to police funding.

“Police are a necessary service in our region, they are vital to this region,” said councillor Colleen James. “This reduced number is not defunding the police.”

Councillor James put forward an amendment to shave $1 million off the police budget but the amendment failed.

“By taking a million dollars out of the police budget at this juncture you are merely kicking that annualized amount down the road to next year,” said regional chair Karen Redman.

The tax rate increase will appear on the regional portion of the property tax bill. It encompasses the cost for regional services as well as Waterloo regional police services for the year.