Every year since 2014, Wake County residents have been burdened by yearly property tax hikes. Now Wake County is proposing yet another tax hike — 2.9 cents per $100 in value.
Wake County’s proposed budget includes a nearly 3 cent tax hike to increase funding to the Wake County public schools and dedicate money toward the county’s affordable housing efforts.
It would add $87 on the tax bill on a $300,000 home under the proposed plan. Wake County residents have seen the property tax rate increase every year since 2014.
The new property tax rate would be 64.4 cents per $100 valuation, or a 2.9 cent increase.
As a taxpayer, I wonder when a reporter will ask Wake’s elected officials to define full funding of the county’s “needs.” In other words, how much money is enough? It’s a legitimate question — one I suspect will never be asked or answered.
