Staff memo.
As a follow up to Public Delegations and to assist Council, on behalf of our Executive Team I would like to provide you with information regarding the estimated 2014 combined property tax rates for Kitchener and Waterloo residents based upon the Region of Waterloo 2014 budget guideline.
In those two-tiered municipalities, upper ‘regional’ tax rate increases must be added with the lower tier tax rate increases to factually report the true impact on the resident. And there is always a caveat that the service levels and menu of programs differ across municipalities.
With that said, as reported by Waterloo Region as per their Budget Guideline Information, the estimated combined property tax increases for 2014 are in the range of 4.55% for Kitchener and 5.26% for Waterloo.
The 2014 tax rate increase estimated for the City of London is proposed at 3.1%.
Our proposed total tax supported rate increase is recommended at 2.37%.
This is the best information we have available to date.
These cities approve their budgets later than Guelph, so we will advise again as their respective Councils complete their deliberations – likely in early 2014. Staff