Local News

Commissioners Approve Wake County Budget, Property Tax Increase

Posted June 19, 2006 7:20 a.m. EDT

— The Wake County Board of Commissioners passed an $851 million budget that included the first property tax increase in three years.

The budget fully funds the Wake County Board of Education's request for $276 million, but for homeowners, it means a 3 percent property-tax hike.

For example, a homeowner with a $150,000 house would pay an extra $45 per year in taxes.

In addition, the city of Raleigh is considering a four-cent tax increase, which would mean an additional $60 per year on a $150,000 house.

A billion-dollar school construction bond is also set to be voted on in November.

More school bonds are expected.