Wake County property taxes could increase for 1st time in 3 years

6 June 2022

An increase in property taxes in Wake County is just one vote away from becoming a reality.

The Wake County Board of Commissioners is scheduled to vote on the fiscal year 2023 budget on Monday evening, and if the budget proposal moves forward, Wake County residents would see their first property tax increase in three years.

If approved, the budget would include a 1.5 cent increase to property taxes. For a house worth $300,000, that adds up to an extra $45 a year in taxes.

The tax increase would be used for general funds and create an additional $29 million to help pay for things like staffing as the county deals with a staffing shortage and aims to increase pay and add more jobs.

The additional funds would also support a big pay raise for county commissioners.

The commissioners will meet at 5 p.m. to vote. You can watch the livestream online.

Raleigh skyline from Boylan Heights bridge. Photo taken May 22, 2021.

The 2023 fiscal year in Wake County runs from July 1, 2022, to June 30, 2023.

Property taxes could be increasing in other parts of the Triangle.

Garner Town Council meets Monday night to discuss its plan for spending tax dollars. The town originally proposed a 2 cent increase per $100 of assessed home value but could double the increase to 4 cents. The council aims to have its new budget approved by the end of the month.

Garner leaders ready to double proposed hike in property taxes

This post was originally published on this site

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