City of Raleigh approves new budget with increase in property taxes, water

RALEIGH, N.C. (WTVD) -- The City of Raleigh has a new budget.

On Monday evening, the city council unanimously approved the $1.2 billion budget during its work session.

The budget comes with an increase in the property tax rate.

The 4-cent increase raises the city property tax rate to 43.3 cents per $100 valuation.

Raleigh property owners are getting hit twice. They will also face a tax rate approved by Wake County commissioners.

Water rates will also increase.

Under the budget, all full-time City of Raleigh workers will receive a merit pay raise between 3.5% and 5%.