2014年房地产税将上涨 1.25%

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Property taxes expected to rise 1.25 per cent in 2014


WATERLOO — The average Waterloo resident can expect to pay about $40.32 more on city utility bills in 2014.

According to the proposed 2014 Waterloo budget, a homeowner in the city's small residential category will pay about $811.68 for water, sewer and stormwater taxes.

The Region of Waterloo sets wholesale rates for water and waste water treatment. The city then sets a retail rate above that intended to pay for infrastructure cities are responsible for, according to a staff report.

Property taxes are slated to increase about 1.25 per cent, including stormwater. That's about $15.42 on the average home assessed at $323,000.

"It's always our goal when we go into a budget to keep costs in line," Coun. Scott Witmer said.

On Dec. 9, councillors are expected to approve a $159-million operating budget and $74-million capital budget.

The city projected tax rates on a three-year basis using the Municipal Price Index — a system the city came up with in 2006.

It ties tax rates to the costs of several city expenses including salaries and benefits, hydro, water and sewer, natural gas and the consumer and construction price indices.

"I think it's a decent tool," Witmer said. "We're always looking for better tools, better indicators."

The city also looks at statistics provided by the Ministry of Labour for average public sector wage settlements.

On Dec. 5, a report from Laurier School of Business and Economics masters' students reviewing the municipal price index system will be released.

This term of council will have raised taxes about seven per cent from 2011 to 2014.

Budget highlights:

• Waterloo paid almost $12 million toward debt in 2013

• Waterloo Public Square won't be paid off until 2018

• Staff propose paying city commissioners up to $165,000 because they have more responsibility after an organizational review

• New contract staff are proposed for an engineering technologist, planning assistant and advertising and sponsorship role

• Staff propose an overall 2.2 per cent increase to cemetery fees.