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

Added: 2026-06-07

[00:00:00]Yeah, and it's one that they admitted was a really difficult decision for them. It's all a combination of factors.

[00:00:04]On the one hand, you have so many people moving to Wake County and the need for more infrastructure combined with inflation and the economy being what it is, and a difficult situation with the state budget.

[00:00:16]Wake County Commissioners unanimously passing a nearly $2.3 billion budget, but it comes at a cost. A 2-cent increase to property taxes, meaning $90 more on a tax bill for a $450,000 home.

[00:00:29]The board says it was a tough choice.

[00:00:31]>> You know, we understand that many of our citizens, you know, it's tough times right now. 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 living in communities that need assistance.

[00:00:48]>> But they said they were left with no choice between tariffs, a war, and inflation at the federal level, and at the state level, lawmakers still not passing a budget of their own.

[00:00:57]>> It's those types of things that put us in a bind, and they keep lowering it and lowering it and pushing it down to us.

[00:01:03]And, of course, our only revenue is about 75% comes through tax our property taxes, which makes it very difficult for us.

[00:01:10]>> Combine that with so many people moving to Wake County, creating more need for infrastructure.

[00:01:14]>> Growth do not pay for itself. Uh so, with that being said, you know, we have to do other things in order to try to help balance our budget.

[00:01:21]>> But one of the biggest costs, an additional $25 million to help fully fund Wake County public schools on top of extra funding they say they had to chip in from the state not adequately funding K-12. Some still wonder though if the property tax hikes were needed.

[00:01:35]>> Well, they need to lower the property taxes, I guess.

[00:01:38]>> Yeah.

[00:01:38]>> Yeah, they need to use their money in the right places.

[00:01:41]>> Others say they understand it's a tough situation, and regardless of the reasons, it was important not to leave schools behind.

[00:01:47]>> You would hope that their priority is making sure they have the resources that they need to give the children all the opportunity that 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.

[00:02:05]>> Yeah, a lot of other counties around the triangle are dealing with similar issues. One other issue that they say has been a problem for revenue has been uh those property appraisals, uh those being challenged. A number of them um people tried to have it reassessed. Uh that contributed to less revenue coming in. Another issue is this so-called a Blue Ridge Loophole, basically where uh developers have been able to get around not paying property taxes on apartment complexes. That is something that they want to see changed at the state level, and something uh they're pushing for lawmakers to see done. Uh that can uh hopefully improve the revenue situation moving forward. Reporting live, Tim George, ABC 11. Eyewitness News.