Wake County passes nearly $1.9B budget with spike in property taxes

Josh Chapin Image
Tuesday, June 6, 2023
Wake County leaders approved a nearly $1.9 billion budget
EMBED <>More Videos

Wake County leaders approved a nearly $1.9 billion budget for next year that will mean higher taxes for many families.

RALEIGH, N.C. (WTVD) -- Wake County leaders approved a nearly $1.9 billion budget for next year.

It will mean higher taxes for many families.

"Moving from $2,000 to $3,700 was like almost double so I wasn't prepared for that," said Moe Halboon, a Raleigh father of three.

Halboon bought his house in Renaissance Park south of downtown Raleigh in November 2020 in a buyer-friendly market.

Then he got that huge bump in taxes from Wake County and the City of Raleigh.

"I was not prepared for that," he said. "It made me have some financial issues but I have no other choice."

READ MORE: 20-story towers will rise near Dix Park as part of $700 million project

County commissioners approved a $50 million investment for Wake County Public Schools which was $10 million more than originally proposed. They also voted to raise property taxes by 3.75 cents for $100 of assessed value which was also higher than the 3.25 cent increase originally proposed.

It means for a $300,000 home, which is the median in the county, owners would pay $112 more per year on property taxes than they do right now.

"It seems like it would be counterproductive to add more of a tax burden on those who are already heavily burdened with taxes," said Karen Haines of Raleigh. "It would tend to drive the taxpayers who shoulder that burden out of the city and potentially out of the state to areas that have lower taxes."

READ MORE: Boomtowns: Rolesville rising as new homes, businesses bloom

Commissioners praised the work that the staff and county manager did to get the budget that they say deals with the booming population, demands from its school district and public safety.

Halboon is hoping his increase next year isn't as much.

"I'm happy to do it," he said. "I feel like it's my civic duty toward my community, toward the place where I'm living."

There will also be five more school resource officers dedicated to the Wake County Sheriff's Office and one detective fully devoted to investigating crimes at schools.

The budget goes into effect July 1.