The Wake County Board of Commissioners approved $10 in new or increased vehicle registration fees Monday to help fund its $2.3 billion transit plan, which is expected to connect the Triangle with more buses and trains by 2027.
The board, including new commissioners Greg Ford and Erv Portman, unanimously approved levying a new $7 county vehicle registration tax and increasing the regional transit authority registration tax, which is levied by GoTriangle, by $3 on all qualifying vehicles registered in Wake County.
Tim Maloney, Wake County’s director of planning, development and inspections, said the changes are expected to take effect in July. They are estimated to generate $8.5 million in fiscal year 2017, which starts next July 1.
The new fees will be among several sources of revenue that will help pay for a majority of the 10-year transit plan. Another major funding source is a half-cent local sales tax that 52.7 percent of Wake County voters supported during November’s election.
The transit plan, which was approved by the county in June 2016, calls for commuter rail between Garner and Durham, as well as more and higher frequency bus routes throughout the county.
Commissioner James West and newly-appointed Commission Chairman Sig Hutchinson confirmed with staff that funding from the new taxes would be used only in Wake County.
GoTriangle, a regional public transportation authority, and Wake County municipalities that offer public transportation services – Raleigh, Cary, Wake Forest and a portion of Durham within Wake County – still will need to approve an interlocal agreement. Maloney said this was expected to happen by the end of January.
Kathryn Trogdon: 919-829-4520; @ktrogdon