The window is closing for a referendum to be put on the Nov. 4 ballot to allow Wake County voters to approve raising the sales-tax rate by a quarter-cent so the extra revenues could go toward raising teacher pay.
According to the timeline that will be presented at this afternoon’s meeting, to place the item on the Nov. 4 ballot it would have to be approved by commissioners no later than the Aug. 4 meeting. Barring a special meeting, this leaves only three meeting dates for the commissioners to take action – today, July 21 and Aug. 4.
Based on an an analysis by county staff, the higher sales tax rate would generate $27 million a year extra in revenue. A Wake County household with the median income of $65,826 with an assumed 24 percent in taxable spending would see an average impact of $40 annually.
Republican commissioners have been talking about waiting until the state budget is adopted to see what teacher raises may be included before discussing the sales-tax referendum. But Democratic commissioners may cite the short time frame for a fall referendum to press for action.
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Click here for a prior blog post on the issue.