Commissioners Approve Wake County Budget, Property Tax Increase
Posted June 19, 2006 7:20 a.m. EDT
RALEIGH, N.C. — 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.