The budget is our annual financial plan and allows city council to prioritize the programs and services we deliver. Our 2023 budget sets the direction for the work to be completed over the upcoming year.
On this page:
Average residential impact
For the average home in Kitchener, the approved rate increases for the 2023 budget are:
- property taxes: 4.8% or $56 annually
- water utilities (water, sanitary & stormwater): 4.5% or $42 annually
Our approved 2023 budget represents a combined annual increase of $98 for the average household, based on the average assessed value of $326,000 and annual water consumption of 170m3.
Budget overview
The approved 2023 budget addresses your priorities:
Supporting core service
We’re facing new economic realities, including skyrocketing inflation, cost increases due to supply chain issues and volatility in fuel costs due to the war in Ukraine.
Despite these challenges, staff have prepared a budget that maintains current service levels while balancing the need for reasonable rate increases. We use a two-year inflation average as a benchmark to establish whether a proposed rate increase is reasonable. The proposed 2023 increase of 4.8% is below the two-year average (5.2%) and well below the current rate of inflation (7%).
Responding to growth
Kitchener is a rapidly growing city. To accommodate this growth, we need to invest in capital infrastructure like roads, water mains, recreation facilities, active transportation networks and parks. Our proposed 2023 budget includes these necessary investments for residents to have a vibrant city where they can live, work and play.
Investments for our community
In the proposed 2023 budget, there is $1.5 million available that council can allocate towards strategic investments. This funding is available due to electricity savings from the city-wide conversion to LED streetlights and additional investment income due to interest rate increases.
The investment options fall into the following themes:
- housing for all
- creating a green city
- wellbeing and belonging
These options came from the initial feedback from the 2023-2026 strategic planning process.
Learn about municipal budgets
Check out these videos to learn more about our municipal budget:
- how your city budget works
- master plans, strategic plans and long-term financial plans
- region vs. city
- reserves and debt
- tax supported budgets vs. rate budgets
Documents
Subscribe to this page to get an email when we add the final budget documents.
Read our proposed budget document to learn about our financial situation going into the new year and to learn more about service delivery in 2023.
Download the appendix documents: