Waterloo homeowners will pay $99 more on property taxes in 2025

Waterloo City Hall is seen on Wednesday, Nov. 27, 2013. (David Imrie / CTV Kitchener)

The City of Waterloo has officially passed its 2025 budget with a 6.34 per cent property tax increase.

For the average homeowner, that will mean $99 more per year or an additional $8 a month.

“The City of Waterloo continues to face pressures from updated labour and other committed operation obligations, as well as provincial legislative changes,” Coun. Diane Freeman, the city’s finance liaison, said in Monday’s news release. “Similar to our residents and businesses, we are impacted by ongoing price increases – the escalating cost of goods and services impacts the city’s cost of doing business. In spite of these pressures, we are pleased to be able to confirm the previously approved 2025 budget and continue the work we are doing to close our infrastructure gap, and to fund the critical services and programs that our residents depend on.”

The budget includes funding to improve winter sidewalk accessibility, money for additional development planners to build more homes and preventative building maintenance.

Last year, the city approved a 6.14 per cent property tax increase.