City of Waterloo residents will have to fork over more money to cover their property tax bills this year and for the next two years after that.

City council last night approved its 2016 to 2018 operating and capital budgets.

The increase is 2.2 per cent this year, 2.3 per cent next year and 2.4 per cent in 2018.

In terms of how much more it will cost the average homeowner, it works out to $27 this year, $29 in 2017 and $31 the following year.

Chair of the city’s finance and strategic planning committee Jeff Henry says, “To be effective, there has to be a direct

connection between what we value and where we choose to invest. This budget reflects our priorities, what we heard from our citizens, and the values we represent.”

In addition to all the regular items covered in the budget, such as fire protection, snow removal and road

maintenance, the budget also keyed in on LED streetlighting energy savings, additional winter maintenance for city owned trails, and the advancement of funds to the Waterloo Public Library.

Council also confirmed the combined water, sewer and stormwater rate increase, which was approved back in January.