Wake County approves budget with no property tax hike
Posted June 17, 2013
Raleigh, N.C. — The Wake County Board of Commissioners approved a budget Monday that holds the line on property taxes for the next fiscal year, which begins July 1.
The $983 million budget includes $343.7 million for education, $115.5 million for public safety, $190 million for public health and human services, and $232.4 million for debt repayment and capital projects.
The property tax rate will remain unchanged for the fifth consecutive year at 53.4 cents per every $100 of assessed value.
“The 2014 budget continues Wake County’s practice of allocating to the highest priority areas: public safety, education, and human services and public health,” Wake County Board of Commissioners Chairman Joe Bryan said in a statement. “The budget also funds development-related services, which have shown recent growth, such as the Register of Deeds, building inspections and the Revenue Department. We are extremely pleased that we are able to meet these needs without a property tax increase.”
The 2014 budget reflects an increase of 4.7 percent – or $44.3 million – over the current budget.