Wake County approves nearly $2.3 billion budget with property tax hike

RALEIGH, N.C. (WTVD) -- Wake County commissioners have unanimously approved a nearly $2.3 billion budget that includes a property tax increase, raising concerns for residents amid a challenging economic climate.

The spending plan raises property taxes by 2 cents, resulting in an estimated $90 increase on the annual tax bill for a $450,000 home.

County leaders said the decision was difficult but necessary.

"You know, we understand that many of our citizens and, you know, it's tough times right now," said Wake County Commission Chair Don Mial. "You know, as I always like to tell folks, I got a 97-year-old mom that lives here in the county. So these types of things affect mainly our senior citizens and those that are living in the community that need assistance."

Commissioners pointed to several external pressures that contributed to the increase, including tariffs, a war, and ongoing inflation at the federal level. They also cited uncertainty at the state level, where lawmakers have yet to pass a budget.

"It's those type of things that puts us in a bind, and they keep lowering and lowering it and pushing it down to us, and so 75% of our revenue comes through property taxes, which makes it very difficult for us," Mial said.

Rapid population growth in Wake County has also added strain to the budget, increasing the need for infrastructure and services.

"Growth do not pay for itself. That being said, we have to do other things to balance our budget," Mial said.

A significant portion of the spending includes an additional $25 million to fully fund the Wake County Public School System. Officials said the county had to contribute more funding, citing what they described as insufficient state support for K-12 education.

Some residents questioned whether the tax hike was necessary.

"Well, they need to lower the property taxes, I guess, yeah, they need to use their money in the right places," said Raul Rodriguez of Raleigh.

Others said they understood the difficult position facing commissioners and supported prioritizing education funding.

"You would hope that their priority is making sure they have the resources that they need to give the children all the opportunity they need to succeed, so wherever they have to get it from, as soon as possible, I think it's important to make that the priority," said Renee Cooper, a grandparent.

County officials also said revenue declined because of an increase in property valuation appeals. They are urging state lawmakers to close the so-called Blue Ridge loophole, which they say allows developers and investors to avoid paying property taxes on apartment complexes.

The new budget reflects balancing financial pressures while addressing growth and maintaining services, county leaders said.