04-17-2018, 03:18 PM
City of Waterloo is considering an incremental 1.5% annual tax increase for 10 years to enable infrastructure repairs. Based on my interpretation, it's a 1.5% increase in the first year, maintained for 10 years, not ten 1.5% increases over 10 years. (in 2032 the RIM Park payments will be completed, freeing $2M per year.)
https://www.therecord.com/news-story/839...e-repairs/
1.5% of the current tax base is about $1.1M, so this is not a massive amount of money. The current capital budget is roughly $40M/year, so this is not even a 3% increase on that. Unless I'm wrong and they plan to do 10 increases of 1.5%.
https://www.therecord.com/news-story/839...e-repairs/
1.5% of the current tax base is about $1.1M, so this is not a massive amount of money. The current capital budget is roughly $40M/year, so this is not even a 3% increase on that. Unless I'm wrong and they plan to do 10 increases of 1.5%.