Region of Waterloo 2024 budget maintains essential services, invests in critical community needs

Posted on Wednesday December 13, 2023

Waterloo Region – Regional Council passed the 2024 Plan and Budget on Wednesday that maintains the essential services residents rely on, while increasing investments to meet the needs of a rapidly growing community.

The 2024 budget includes increased investments in housing, transit services, paramedic services, and more.

At a time of continued high inflation and escalating costs, the Region’s budget balances maintaining essential services with affordability for residents.

The total 2024 Operating and Capital budget for Regional services, including costs for Waterloo Region Police Services, is $2.1 billion, which represents a tax rate impact of 6.9%. This amounts to an annual increase of $165 for an average property, or $13.76 per month.

Wednesday’s budget approval includes investments in community priorities, including:

  • $472 million investment in homes for all. This includes investments to rapidly expand affordable housing, support those experiencing homelessness, and investments to drive economic growth and opportunities. 
  • $316 million investment in equitable services and opportunities. This includes investments to expand and maintain paramedic services, investments in children’s services, seniors’ services, funding for youth programs and services and a one-time doubling in the grant allocation to the Food Bank of Waterloo Region to $1.5 million. 
  • $815 million investment in climate aligned growth. This includes growing our transit network, providing safe water and supporting waste management.
  • $125 million investment in a resilient and future-ready organization: This includes investments in modernizing service delivery through data and technology, ensuring long-term financial sustainability, and supporting employee wellbeing. 

Each year, the Region’s plan and budget process engages thousands of community members to identify priority investments and areas of top community need.

Regional staff also work to identify operational cost savings and efficiencies to support growing service needs. Over the past five years, $40.5 million in savings and efficiencies have been identified and implemented. 

For more information on these investments, please visit



Region of Waterloo Chair, Karen Redman:

“Council’s 2024 Plan and Budget includes expansions to essential services and investments in infrastructure that supports mobility, connectivity and economic prosperity,” Karen Redman, Regional Chair. “It addresses the growing need to build homes for all, not just houses, recognizing the supports and infrastructure needed to build liveable and vibrant communities across our region.”

Chair of Administration and Finance, Michael Harris:

“Like other municipalities, we are grappling with high inflation, interest rates and the pressures of growth,” said Michael Harris, Chair of the Administration and Finance Committee. “This budget balances the needs of our growing community in a fiscally responsible way as we navigate the pressure of that growth on services and costs.”


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