Wake County proposes budget that might come with increased property taxes

Name: Wake County proposes budget that might come with increased property taxes
Uploaded: 2026-05-05T00:48:14.000Z
Duration: 2 min 31 s
Description: Wake County Manager David Ellis has proposed a 2027 budget featuring a 2-cent property tax increase to address a funding shortfall, which he attributes to uncompensated state-level responsibilities and the Blue Ridge loophole.

Wake County Manager David Ellis has proposed a 2027 budget featuring a 2-cent property tax increase to address a funding shortfall, which he attributes to uncompensated state-level responsibilities and the Blue Ridge loophole.

Posted 5/5/2026, 12:48:14 AM Updated 5/5/2026, 1:00:08 AM

FORWARD HERE. DAN LOCATION,

THAT'S UPDATE ON ON BIG STORY.

NUMBER ONE, LET'S TALK ABOUT

ANOTHER ONE BECAUSE YOU YOU'RE

AT THE MEETING TODAY IN THE

FIRST PLACE TO TALK ABOUT THE

WAKE COUNTY BUDGET AND

>> AND WE'RE LOOKING NOW AT

A PROPERTY TAX INCREASE, RIGHT?

SO GIVE US THE DETAILS THAT WE

KNOW AT THIS POINT. HOW MUCH

ARE WE TALKING ABOUT HERE?

>> YEAH. SPOKE TO THE WAKE

COUNTY MANAGER RIGHT BEFORE HE

GAVE HIS PRESENTATION AND HE

LET ME KNOW THAT HE WAS GOING

TO PROPOSE DOING A $0.02

INCREASE ON PROPERTY TAXES

DOESN'T SOUND LIKE A LOT,

RIGHT. BUT IT BRINGS THE TOTAL

TO NEARLY $0.54 AND WITH THAT,

THAT MEANS THAT SOMEBODY WHO

OWNS A $450,000 HOME, THEY CAN

EXPECT ABOUT $90 MORE A YEAR ON

THEIR PROPERTY TAX BILL.

BUT THAT ADDS ABOUT 62 MILLION

DOLLARS TO THE COUNTY'S BUDGET.

BUT THE COUNTY IS STILL NEEDED

TO FILL A HOLE HERE. SO THEY

ACTUALLY ALSO DID A ONE-TIME

WITHDRAWAL OF 35 MILLION

DOLLARS FROM THEIR RESERVES.

THAT WITHDRAWAL, SOMETHING THAT

THEY DON'T REALLY DO. THEY

DON'T RECOMMEND DOING IT, BUT

IT'S TO TRY TO HELP LESSEN THE

BURDEN THAT THEY'RE ALREADY

THINKING OF DOING FOR THE

PEOPLE IN THE COUNTY BY RAISING

THEIR PROPERTY TAX RATE BY

$0.02 SO MANY CONVERSATIONS

AROUND AROUND TAXES, RIGHT?

SO.

>> PROPERTY TAX WE SHOULD ALSO

MENTION MAKES UP ABOUT 75% OF

WAKE COUNTY'S REVENUE. THAT'S A

HUGE CHUNKS OF BETWEEN.

>> YOU KNOW, PROPERTY TAX

LOOPHOLE THAT IS OUT THERE.

THE POTENTIAL NOW OF THE STATE

TRYING TO CAP PROPERTY TAXES,

ONE OF THEIR OPTIONS DOES THE

COUNTY CONSIDERED TO KIND OF

MAKE ENDS MEET LOOKING AT A

POTENTIAL INCREASE IN SALES

TAX? IS IT IS IT CUTS TO

SERVICES? WHAT WHAT IS A WORTHY

FOR TRY AND FIND ROOM TO TO

WORK THIS ALL OUT?

>> WELL, DAN, IT'S REALLY ANY

AND ALL I MEAN, THEY TALK ABOUT

THE POTENTIAL OF SALES TAX ON

IT. BROUGHT THAT TO THE

MANAGER. HE SAID SALES TAX IS

JUST TOO VOLATILE. WE CAN'T

HAVE A 2.2 BILLION-DOLLAR

ORGANIZATION WHICH WAKE COUNTY

REALLY IS SO AND ON THE

VOLATILITY OF A SALES TAX OF

WHAT'S COMING AND TAX RIGHT

THERE IS THE ACTUAL.

AND THEN I SO IF NOTHING

CHANGES BY THIS TIME NEXT YEAR,

WE WILL BE TALKING ABOUT THOSE

CUTS AS WELL. AND THAT COULD

MEAN CUTS TO THINGS LIKE

EDUCATION SERVICES, BUT ALSO

PROGRAMS AND SERVICES ALONG

THE WAY. BUT THERE IS, YOU

KNOW, LEGISLATIVE SUPPORT,

BIPARTISAN ON BOTH SIDES ABOUT

CLOSING THAT LOOPHOLE THAT

WOULD SAVE MILLIONS OF DOLLARS

EVERY SINGLE YEAR. BUT IT IS

IMPORTANT TO NOTE THAT EVEN IF

THIS PROPERTY TAX RATE INCREASE

DOES GO THROUGH WAKE COUNTY

STILL IN THE BOTTOM. 3RD, IN

THE ENTIRE STATE FOR TOTAL

PROPERTY TAX VALUE THAT.

OKAY. ALL RIGHT, SEAN, LOT

UPDATES. THANK YOU.