Council affirms 2022 city budget

Council has confirmed a 3.1 per cent property tax increase for 2022 – as previously planned in the city’s three-year budget.

The increase consists of two components – 1.8 per cent is base budget and operating impacts of capital and 1.3 per cent service level changes and infrastructure investment. The average household will see an increase of $3.57 per month, or $42.84 annually, on their property tax as a result of the increase.

The budget also includes a tax deferral program for 2022 for residents who may experience COVID-related financial challenges and the confirmation of new staff to work at the expanded Waterloo Memorial Recreation Centre.

“The escalating cost of goods and services impacts the City’s cost of doing business and as such, an operating base budget increase of 1.8 per cent for 2022 is in fact lower than current and forecasted inflation,” said Councillor Jeff Henry, Finance liaison. “Similar to other municipalities, we have a pressing need to close the infrastructure gap. We need to enhance the money we spend on our roads, parks and facilities to ensure they are at a level that our community expects and deserves.”

Among the initiatives planned for 2022:

• Funding for the future operating expenses of the new Eastside branch library and for existing library branches
• Funding to allow the city to fully transition to paying a living wage
• Addition of a fire prevention officer
• Increasing preventative maintenance funding to help assets reach their intended useful life and reduce the risk of premature asset failure
• Public Square furnishings and equipment replacement
• Ball diamond upgrades
• Neighbourhood action sports parks
• Artificial turf rehab - RIM Park
• Park shade structures and washrooms
• Urban forest strategy
• Green Building Policy implementation
• Northfield Drive multi use trail – Bridge Street to University Avenue

Council also directed staff to consider opportunities to accelerate transformative climate action in the 2023 budget plan, including implementation of the Corporate Climate Action Plan and the TransformWR Climate Action plan.

In 2021, while navigating and delivering services during a pandemic, the city made $54 million in capital investments, with money spent on the new Eastside branch library, expanded Waterloo Memorial Recreation Complex, creation of a city diversity, equity and inclusion team and much more. Learn more by watching the City of Waterloo budget video or on the budget page of the City of Waterloo website.

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For more information, please contact: 

Filipa Reynolds
Chief Financial Officer & Senior Director, Financial Planning & Asset Management
The City of Waterloo
filipa.reynolds@waterloo.ca   

Tony Iavarone
Director, Corporate Communications
The City of Waterloo
tony.iavarone@waterloo.ca