Taxes are often a source of conversation, frustration and confusion.  I thought I would do my best to provide a bit of information on this.  As of late some media headlines have outlined that the City of Waterloo pays the highest taxes.  I would like you to know that the tax rate per $1,000 of house value is the lowest in the Region of Waterloo.  How is this possible?  It is possible because a $250,000 home in the City of Waterloo is typically smaller than a $250,000 home in other parts of the Region.  The media articles are based on a typical “housing stock” so they are comparing say a 3 bedroom, single car garage, family room, 2+ baths among the various municipalities.  This typical home may cost $250,000 in Cambridge; $260,000 in Kitchener and $270,000 in Waterloo.  Because the taxes are based on the assessed value of the home, the home owner in Waterloo pays higher taxes for the same house because real estate values are higher in Waterloo.  But in fact the tax rate per $1,000 in Waterloo is the lowest in the Region.  The following table shows the taxes paid in Waterloo, Kitchener, and Cambridge for houses with the same assessed value:

 

 

Year

Waterloo

 

(Annual Rate)

Kitchener

 

(Annual Rate)

Cambridge

 

(Annual Rate)

Average Residential Property Value

2008

$873.94

$920.81

$940.01

$203,000

2009

$906.16

$964.65

$970.25

$214,000

2010

$932.00

$998.12

$1,006.25

$225,000

2011

$1,007.39

$1,041.78

Not Available

$254,000

 

Since I started on Council with the City of Waterloo in 2006, the tax rate increases have been some of the lowest in Waterloo Region.  Further, I can assure you, that for every percentage increase an equal percentage increase in savings has been achieved through cost cutting, efficiency and change in business. 

 

No one wants to pay higher taxes.  Taxes from all levels of Government are on the rise. If tax increases do not keep pace with inflation, then service cuts become necessary.   I will continue to work hard on your behalf to ensure that managing our expenditures at the City level is given the highest priority. 

 

 
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