No tax increase in proposed Wake budget
Posted May 20, 2013
Raleigh, N.C. — The $982.8 million budget proposal that Wake County Manager David Cooke unveiled Monday would maintain local property taxes at existing levels and stick to funding core services.
The budget would increase by $44.3 million, or 4.7 percent, from 2012-13, and the extra money would be split among education, public safety, human services, capital spending and other county activities.
“As the economic recovery occurs, we find ourselves also in the position of identifying priority service areas that need attention,” Cooke told the Board of Commissioners. “We’ve identified areas where we recommend adding resources to respond to service demands, while not expanding the role of county government."
Some of those other activities include more positions in the Register of Deeds, building inspections and revenue departments to accommodate a growing demand for development-related services, he said.
“Real estate development is showing signs of recovery in new residential building permits, with an increase of 60 percent over the same time period from a year ago,” he said. “The tax base is also projected to grow at a steady and modest rate of 2.67 percent – more than twice last year’s growth rate.”
Under the spending plan, the property tax rate would remain at 53.4 cents per $100 valuation for the fifth straight year.
Public hearings on the budget will be held June 3, at the Wake County Courthouse at 2 p.m. and at the Wake County Commons Building at 7 p.m. The Board of Commissioners will hammer out details of the spending plan on June 10 before voting on it a week later.