$2.1B budget that comes with property tax increase adopted in Wake County for fiscal year 2026
RALEIGH, N.C. (WTVD) -- The Wake County Board of Commissioners voted 6-1 Monday night to adopt a $2.1 billion budget for fiscal year 2026, which runs from July 1 to June 30, 2026.
Commissioner Shinica Thomas was the lone vote against the amended budget. Several county leaders expressed concerns about approving yet another property tax increase, and accused federal and state leaders of abdicating their duty to properly fund public schools and other programs.
"We are at a breaking point, and we cannot sustain this," said Vice Chair Don Mial.
The approved version of the $2.1 billion budget increases funding for the Wake County Public School System by $40.3 million, raising the district's total operating budget to nearly $743 million. That amount meets Superintendent Robert Taylor's funding request by cutting money set aside to buy land for affordable housing by $1 million, and cutting more than $780,000 for new EMS hires. It also increases the property tax rate by 51.71 cents per $100 valuation - about a $16.20 increase for the average home valued at $450,000 - on top of a .25-cent increase that Wake County voters already approved to support county libraries.
"I think it's important for folks to remember that public school staff also pay taxes," said Christina Cole, President of the Wake NCAE. "Also need public safety, also need affordable housing. All of that is true. So I understand the tensions, but we're glad to hear they decided to fully fund the increase."
Despite the funding hike, the Wake County school board has said it will still need to make some difficult cuts. It said that's because of the effects of inflation and rising costs, as well as the opening of four new schools next year, the operational and staffing costs of which are being left to the county to cover.
"The question is, who can students and staff count on if not the federal government, if not the state government? Right now, we look to our local government in this commission to fill the gaps," Cole said.
ABC11 also spoke with housing advocates after the difficult decision to reduce funding for housing development.
"We are experiencing this rapid growth and not being able to keep up with the demand for it," said Denzel Burnside, Executive Director of the North Carolina Housing Table.
Burnside said he appreciates the county's commitment to finding housing solutions, but has concerns about the long-term effects of not fully investing in more housing as people flock to the area.
"Are you thinking also about those teachers who have to now commute? Most of them commute ... to be able to work. Most of those educators and administrative folks commute in. And so we're not making space," he said.
Wake County resident Donna Williams said she would like to keep more money in her pocket and said rising property taxes have made things tight.
"When you're retired, you're on a budget," she said. "We don't plan for these things to happen, but we have to do whatever we can to survive."
The property tax increase varies depending on location.
There will be an additional fire tax for those in unincorporated areas of the county and the Town of Wendell to pay for more firehouses.
Wake County Manager David Ellis said more financial pressure has been put on the county to keep classrooms running.
"There's been a lack of funding from the state, the federal government," said Ellis.
But residents like Janice Allen say she, too, is dealing with pressure.
She was supposed to retire in a few months.
"It's stressful, very stressful, but I have to do what I have to do," said Allen. "I'm supposed to be retiring, and I put that on the back burner right now."
