Wake County leaders adopt $1.87 billion budget with tax increase
Wake County leaders approved a $1.87 billion budget Monday evening that will provide more money for public schools and raise local tax bills..
“I’m proud of the budget we adopted today, because it supports our growing community from every angle,” said Wake County Commissioner Chair Shinica Thomas. “The investments we’ll make in Fiscal Year 2024 will help us expand our services and enhance our programs to meet the evolving needs of our 1.1 million residents.”
The budget includes a $50 million increase for the Wake County Public School System. That’s $10 million more than what County Manager David Ellis proposed in his recommended budget.
The new property tax rate starting July 1 will be 65.7 cents per $100 of property tax valuation.
The tax increase will cost the owner of a $350,000 home $131 more in county property tax, a roughly 6% hike, for a county tax bill of $2,299.
The adopted budget is nearly identical to proposed budget except for three items:
- It includes the additional money for the school system, bringing the total amount for WCPSS in the budget to $644.3 million.
- It includes an additional $1 million for a $3.2 million increase for Wake Technical Community College for a faculty salary supplement. That brings the total amount for Wake Tech in the budget to $33.5 million.
- It raises Wake County Board of Education member salaries to $30,638. The board chair will receive an additional 20% of the salary amount.
The fire tax rate will increase from 10.27 cents to 12.27 cents per $100 valuation. The Fire Tax District funds fire service in the unincorporated areas of the county and the town of Wendell.
The full 382-page budget can be found online at wake.gov/budget.
Other budget highlights:
- Wake County’s 4,400 full-time employees could see a merit pay increase ranging from 2% to 6.5%.
- 20 new EMS positions and new ambulances.
- 15 new positions for the child welfare program.
- $1.3 million for a home repair assistance program for low-income homeowners through a low-interest or forgivable loan.
- Funds for opening Beech Bluff County Park, the first new county park since 2006.
This story was originally published June 6, 2023 at 7:33 AM.
