New Year – New Tax Increase?

Evidently, municipal tax increases at twice the rate of inflation is becoming the standard in the City of Waterloo. It’s been happening for the past four years – over 12% in tax increases vs. just over 6% for inflation – and in spite of outcry from residents, our newly re-elected council doesn’t appear to want to change this approach anytime soon.  We’ve been told that it’s “…a fiscally responsible approach” and “…a very fair rate.”  How responsible would be for your family or business to be spending more than they bring in?  Simply put, if you need to spend more on something, you need to cut back someplace else…unless you’re fortunate enough to have an unlimited source of funds like the pockets of the residents of Waterloo. 

For further information, see the article in today’s Record, “Tax hike to follow water hike in Waterloo”. http://bit.ly/hTLQDE

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