The City of Waterloo has released its proposed operating and capital budgets for 2011 as well as forecasts for the next several years.

The budget will be formally presented during the finance and strategic planning committee portion of a council meeting at City Hall on Monday, Jan. 10.

The proposed operating budget for 2011 includes:

  • a total operating budget of $145 million
  • a property tax increase of 1.89 per cent
  • a combined water and sewer rate increase of 7.45 per cent
  • storm water budget moving from property tax to user rate as of Jan. 2011

On average, a Waterloo resident who owns a home valued at $225,000 is expected to see an increase of about $77, however that does not include any increase in taxes from education.

The largest portion of that total comes from the cost of regional water and sewer services, which will add about $57 to the average tax bill.

Bob Mavin, the City of Waterloo treasurer says "The region is going through a major capital program for the water supply and sewage treatment, primarily the sewage treatment, to bring all the sewage treatment plants up to new technical specifications and that's the biggest reason for our cost increase for water rates."

He adds that there are no staff increases other than those approved by council in 2010, so there's no expansion in the budget.

The increase is slightly below the inflation rate, and while some aren't bothered by the increase, some taxpayers still say the increase is too much.

Waterloo resident Eleanor Kaufman says "I don't think there's much we can do about it. I think it's too much but that's the way it is."

The budget also includes payments to reduce the city's debt from $66 million to $54 million by 2014, and to $41 million by 2020.

The total proposed capital budget for 2011 is just over $44.7 million, while the forecast for 2012 to 2020 is around $276.3 million.

The operating budget forecast was released for 2012 to 2014 and the capital budget forecast was released for the years from 2012 to 2020.

Final approval of the budgets by council is expected on Feb. 14.