The City of Waterloo has proposed a 23% property tax increase over 3 years. At current Regional taxation levels, the City of Waterloo residents will see property taxes increase 4 times the Bank of Canada’s projected rate of inflation three years in a row!
The City of Kitchener announced a 3.9% property tax increase for 2024. Adding the Waterloo Region’s 2024 increase will result in property taxes 2.5 times the projected 2024 inflation rate.
City of Cambridge residents have seen their average property taxes rise at twice the rate of inflation for 10 years in a row. This year they will see a 7% increase or about 2.8 times the projected rate of inflation.
Regional Government property taxes have gone up by twice the rate of inflation for 8 years in a row, a 53% rise over 8 years. This is an increase of 28% over and above inflation for the 8 year period. And in 2024, the 6.9% increase will be 2.8 times the projected inflation rate.
Woolwich, Wellesley, Wilmot and North Dumfries are also seeing year-over-year above inflation rate property tax increases. Wilmot is looking at a 10% increase which is 4 times the projected 2024 inflation rate.
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