With 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.
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