Wake County unanimously passes $1.8 billion budget, property tax increase for 2024 fiscal year

RALEIGH, N.C. — If you live in Wake County, your property taxes are going up.

The Wake County Board of Commissioners approved a $1.8 billion budget Monday night. The budget passed unanimously 7-0.

Wake County Manager David Ellis proposed the budget to the board of commissioners on May 1.

Included in the budget is a property tax increase of 3.25 cents, bringing the property tax rate to 65.2 cents per $100 in property value.

Under the new budget, a resident would have to pay an additional $75 in property taxes if their home value is assessed at $200,000.

While there were some in agreement with the new budget, there were a few who came to the meeting to voice their opposition.

“I’m here to respectfully express my objections,” said Karen Rains, a resident of Wake County. “My objection lies that it seems, to me, it will be counter-productive to add more of a tax burden.”

Susan Evans, a Vice Chair on the Board of Commissioners, said the decision to raise property taxes was not easy.

“We did not take this lightly,” Evans said. “It caused me quite a bit of anguish. I wish the revenue was there.”

Included in the budget are larger investments in public safety, housing affordability, child welfare and behavioral health.

Under the new budget, Wake County Schools will also get a $50 million increase to its budget, which will fund minimum pay increase to $17-per-hour for employees and for students to get support outside of the classroom.

“This budget from the commissioners will help fill in those gaps from the state allowing us to get closer to the nation ratio of counselors-to-students,” said Lindsay Mahaffey, Chair of Wake County Public Schools.

WRAL.com – Local News