Proposed Wake County budget includes 1.45-cent property tax increase
RALEIGH (WTVD) -- Wake County Manager Jim Hartmann has presented a $1.26 billion recommended budget for Fiscal Year 2018 to the Wake County Board of Commissioners that would require a 1.45-cent property tax increase.
The average cost of a home in Wake County is $270,000. The owner of a home at that price point would see a $39 increase in property taxes.
The proposed budget is an increase of $61.4 million over the FY17 budget.
"The decisions that went into this proposed budget are largely driven by one thing - growth," Hartmann said in a release. "Wake County is a place where people want to work, live and play. Our existing revenue is growing, but it's not enough to address the increasing demands on the services the county is required to deliver and the services the public expects us to provide."
The largest budget item is for Wake County Public Schools. The county manager's recommendation proposes increasing operating funding for WCPSS by $16 million for a total county appropriation of $426 million. This would result in a 2.5-percent increase in per-pupil funding for a total contribution of $2,633 per student.
The public is invited to comment on the proposed budget at a hearing on June 5 during the 2 p.m. Wake County Board of Commissioners meeting or at 7 p.m. at the Wake County Commons Building.
"Developing the recommended budget for FY18 meant making tough decisions to balance the needs of our county, our schools and our commitments," Hartmann said. "Overall, I feel this budget considers our most critical needs, works toward accomplishing county board goals and represents a responsible use of taxpayer dollars."
The commissioners are scheduled to adopt a Fiscal Year 2018 budget at their 2 p.m. meeting on June 19.
