Taxpayers in Wake County will soon learn how their money will be spent in the 2025 fiscal year.
After several weeks of public hearings and suggestions, Wake County leaders will vote on the budget on Monday.
The proposed budget is $2.2 billion, a 10.7% increase from the 2024 fiscal year.
According to Wake County, the proposed budget decreases the current tax rate from 65.7 cents to 51.05 cents per $100 of valuation. Of that, 36.30 cents will fund operating expenses, and 14.75 cents will go towards long-term debt and capital plans.
While the proposed budget decreased the Wake County property tax for homeowners by 22%, the average home value in the county has increased more than 50% after this year’s reassessment, meaning the average homeowner will pay more.
According to Wake County, a resident who owns a $462,000 home, which is roughly the median assessed value in Wake County, will receive a tax bill of $2,358 this year.
In May, Shinicia Thomas said the county needed to look at what the county’s needs are, and how to fund it.
“Groth does not pay for itself,” she said.
Another issue is funding for the Wake County Public School System. The proposed budget includes a $49 million increase in funding to the school district, more than $13 million less than what the school district asked for in May.
Some people say the school district would not be able to fund raises for employees if the budget is passed.
“Public school workers will not receive increased hourly wages if you don’t fully request,” one person said at a public comment meeting. “We’re starting our workers at $17.75 an hour.”
The county is also looking at more funding for public safety and an improved plan for affordable housing.
“I am afraid and concerned that if we don’t get very serious about our business here, we could be looking at some of the most exasperated housing crisis issues,” another speaker said.
Thomas said she and other commissioners said every dollar counts and the decision was weighed carefully.
“We’re looking at a variety of things, and budgets are tight,” she said.
Voting on the budget begins at 5 p.m. on Monday.
