Wake commissioners approve $1.7B 2023 budget, including tax increase, in unanimous vote
An increase in property taxes in Wake County has become a reality after a vote Monday night.
The Wake County Board of Commissioners voted unanimously to approve the fiscal year 2023 budget.
Property taxes
With the budget proposal moving forward, Wake County residents will see their first property tax increase in three years.
The budget will include a 1.95-cent increase to property taxes. For a house worth $337,000, that adds up to an extra $66 a year in taxes.
The tax increase would be used for general funds and create an additional $29 million to help pay for things like staffing as the county deals with a staffing shortage and aims to increase pay and add more jobs.
The county manager initially recommended a 1.5-cent property tax increase in May. The board said the 0.45 cents added by Monday's vote will generate $8.75 million in revenue.
Commissioner salary
The additional funds would also support a raise for county commissioners.
In the new fiscal year, the commissioners will receive a total annual salary of $37,856 with $9,000 in allowances for travel and technology.
In fiscal year 2022, they received $25,288 with $3,300 in allowances.
"This salary adjustment is in line with the county’s efforts to set a living wage for its employees. In the adopted budget, all regular staff will receive at least $18.20 an hour," said the county in a press release.
Education
Funding for the Wake County Public School System comprises 52% of the adopted budget. Investments include a $50 million increase in funding for the Wake County Public School System.
The county manager had initially recommended a $38 million increase for the school district in May. The board opted to raise that amount by $12 million.
The board said these increases bring the county’s total investment in the WCPSS operating budget to more than $594.2 million.
“There is no greater investment we can make for our children’s futures than in education,” said Wake County Commissioner Susan Evans. “These funding increases will help ensure students have well-trained teachers, as well as adequately paid bus drivers, cafeteria workers and other non-certified staff who support effective learning environments.”
The 2023 fiscal year in Wake County runs from July 1, 2022, to June 30, 2023.
