Region of Waterloo joins the Federation of Canadian Municipalities to advance new fiscal funding framework for municipalities

Waterloo Region – Region of Waterloo Chair Karen Redman and Councillors joined the Federation of Canadian Municipalities (FCM) in Calgary as leaders unveiled the next steps in securing a new fiscal funding framework for municipalities. 

In September, Chair Redman travelled to Ottawa for conversations with FCM, policy makers, and industry leaders to inform what a new fiscal funding framework should entail, and which priority areas would best support municipal challenges associated with growth. 

“Service pressures and infrastructure needs continue to rise and cannot be funded by property taxation alone. We are facing the realities of tackling immense growth with outdated revenue tools,” said Karen Redman, Chair of the Region of Waterloo. “A new fiscal funding framework is critical to the future sustainability and viability of the Region of Waterloo as we work tirelessly to ensure a good quality of life for everyone who calls our community home.”

A key pillar of FCM’s targeted recommendations in a new fiscal funding framework includes a comprehensive plan to end chronic homelessness. The Region of Waterloo is committed to this work and partnering with all government partners on The Plan to End Chronic Homelessness. 

“In a housing, homelessness, and affordability crisis we cannot fund the critical social infrastructure needed simply with property taxes. The Region of Waterloo’s Plan to End Chronic Homelessness is a roadmap to tackle an issue that impacts us all,” said Regional Councillor Michael Harris, Chair of the Administration and Finance Committee. “Balancing this need with keeping property taxes affordable calls for a new deal for the Region of Waterloo.” 

Last week, Regional staff presented a first look at the Region of Waterloo’s 2025 budget with a projected nearly 13% tax rate increase. 

In 2025, the Region of Waterloo will fund a projected $216 million in services that should be funded by other orders of government.

For more information on FCM’s suggestions, visit Making Canada's Growth a Success | Federation of Canadian Municipalities (fcm.ca)

The Federation of Canadian Municipalities annual conference is taking place June 4-9 in Calgary, Alberta. 

-30-