City of Waterloo 2024-2026 Budget

The City of Waterloo's budget funds the delivery of programs, services and capital projects that matter to residents in the City of Waterloo. Through the budget, clear financial commitments and approvals are put in place in support of the priorities identified by community, staff and Council in the 2023-2026 Strategic Plan.

Strong, Sustainable, Together

The 2024-2026 staff tabled budget is a three-year budget, and is positioned to implement the priorities of the City’s 2023-2026 Strategic Plan and continue the progress made with recent budgets focusing on four main goals:

1. Service delivery enhancements and additions as supported by the Strategic Plan
2. Support for existing programs and services
3. Operating funding to support new capital assets
4. Continued increased investment in infrastructure renewal

The budget includes tabled property tax increases of:

• 7.46% in 2024 — average increase of $110 per household
• 7.30% in 2025 — average increase of $116 per household
• 6.44% in 2026 — average increase of $110 per household

These rates include base budget and operating impacts of capital and growth increasing in the range of 3.55 to 3.86 per cent, which is less than the current rate of inflation. Rates also include service level increases (such as Fire Expansion and Enhance Sidewalk Winter Control) for Council’s consideration in the range of 1.89 to 2.64 per cent, and an increased infrastructure investment of 1 per cent annually.

The 2024-2026 tabled budget includes $1.6M in efficiencies and improvements, equivalent to 1.75 per cent in property tax savings. A variety of continuous improvements have been made in 2023 or are underway. The tabled budget also includes a menu list with additions and $2.4M in reduction opportunities equal to a 2.5 per cent property tax reduction for Council consideration as part of final budget decision-making in February.

Learn more

Find out more about the recommended property tax and utility rates, read all the budget documents and learn more about spending and saving priorities on the City’s website.

There are a lot of documents and information to review as part of the budget. We’ll highlight various key sections and information in the News Feed in the coming weeks to help break it down, starting with our Strategic Stories, highlighting how the budget is built using community feedback to support our community’s priorities.

Engagement opportunities

The City of Waterloo has a long-standing practice and commitment to meaningful engagement with the community. The 2023-2026 Strategic Plan was developed on a foundation that was rooted in deep, meaningful and targeted engagement. Public engagement is also a priority in our budget process. In addition to the public Council meetings through January and February 2024, there is a survey to gather public input, as well as a hybrid budget information session. Residents can attend the information session in person or online:

Tuesday, January 9, 2024 from 6:30 to 8 p.m.

• Registration is required to attend in person or online, and is open until January 4, 2024.
• We will email a meeting link to online participants.
• Attend the in-person session at the Community Pavilion, Waterloo Memorial Recreation Complex.

Stay informed

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