Niagara Region Budget Review Committee of the Whole approved operating budget increases for water and wastewater services for 2024 at their meeting Thursday November 16, 2023 to the tune of 7.95 percent.
The huge spike in cost comes again after the Region previously raised the water and wastewater budget by 8.59 per cent in 2023 and 5.15 per cent the year prior.
In a press release, the Region stated: “A budget increase of 7.95 per cent for water and wastewater services addresses inflationary pressures, the impact of higher costs for the equipment and materials that keep drinking water safe, and capital renewal needs.”
The press release further justified the increase saying: “At $2 per household per day, the Region’s share of water and wastewater total costs remain relatively at par or lower compared to similar-sized municipalities in Ontario.”
For 2024, the Region says the price hike for water and wastewater funding will provide an additional $11.4 million, of which $5.9 million is put toward renewal needs identified in the Region’s $5 billion asset management plan.
The new rates will become effective Jan 1, 2024.