I C K B A I T Budget Breakdown

BY JASMINE GALLUP jgallup@indyweek.com

WUQith inflation on the rise, Wake County is considering raising property taxes to compensate for the increased cost of staff and services, according to the proposed budget for fiscal year 2024. An additional tax increase of 1 cent per $100 would pay for new school construction and renovation. Education makes up the biggest slice of the budget by far, but with affordable housing still a major concern for residents, the county also plans to invest nearly $20 million in new and existing initiatives. The county expects to approve a new budget June 5, after getting input from the public.

Proposed Tax Increases

3.25

• Adds $65 million to the budget

• Equals about 65.2¢ for every $100 of property value

• The owner of a $300,000 home would pay about $98 more in FY 2024

• Wake County needs more money to counter the impacts of inflation (averaged 8.6 percent last year)

• Construction and renovation of public schools and Wake Tech facilities