Waterloo Region budget approved, property taxes to rise 8.5%

After hours of deliberation, Waterloo Regional Council approved the 2023 budget late Wednesday night.

The total for this year’s budget, which includes the police budget, rises to $1.9 billion, which will cause tax bills to rise by 8.5 per cent.

The region said that it will cost the average property taxpayer about $187 per year or $15.60 per month.

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“Without question, this has been a challenging budget,” said Coun. Michael Harris, who chairs the budget committee.

“It’s not just the Region of Waterloo that’s experiencing an increase in costs. Households and residents across the region are experiencing it too.”

A release from the region highlighted some areas where the money will be spent, including a $163-million funding commitment for housing and homelessness, $240 million for transit, and $63 million for paramedic services, which will allow for four new ambulances and 20 new paramedics.

There will also be $147.1 million to repair and maintain regional roads, a number which includes funding for new sidewalks, roundabouts and street light upgrades.

There is also $40 million earmarked for Waterloo International Airport which will see money go to add more parking, improve baggage handling and add more airport firetrucks.

“This budget sets the stage for important conversations ahead around areas like transit, housing and infrastructure,” said Regional Chair Karen Redman.

“I am excited to work with our residents and this council to continue to build this community throughout the year.”