The City of Guelph is out with its multi-year draft budget and the numbers are opening some eyes, and maybe dropping some jaws.
The budget was released on Friday and the city is proposing a rate increase of 10.32 per cent for 2024.
That would mean each household would have to pay another $450 on their tax bill for an average home assessed at $407,000.
The city’s utility rates (water, wastewater and stormwater) will also go up between $7.39 and $9.48 a month for the average home each year over the next four years.
According to a news release, the budget was built based on direction from the council-approved Future Guelph strategic plan.
The 2024 tax levy increase breaks down into three areas: the city (4.97 per cent), local boards and services (1.98 per cent) and the province (3.37 per cent).
The public can see the budget on the city’s website.
The budget will be officially presented to council on Nov. 7. It must be adopted on or before Dec 25.
The public is being encouraged to participate in the budget deliberations.
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