Wake County Manager David Ellis recently presented his recommended Wake County budget for the 2024 fiscal year — which starts July 1, 2023 and runs through June 30, 2024 — to the board of commissioners.
Ellis’ $1.8 billion proposed budget focuses on making notable investments in programs like public safety, affordable housing, child welfare, behavioral health, and education. The majority of the budget — $1.06 billion, or 57% — would be invested in education, including $32.5 million for Wake Tech.
If approved, there would be a total tax increase of 3.25 cents and the property tax rate would bump up to 65.2 cents per every $100 of property value. Read: If you own a median-valued home, you would pay around $98 more in the 2024 fiscal year.
As a result, this would generate an additional $65 million for the General Fund and the Debt Service Fund.
The board of commissioners will hold its first work session to discuss the budget on Monday, May 8.
There are several opportunities to communicate your thoughts on the proposal before the board considers adopting the budget at the meeting on June 5. Fill out the online survey, now through Friday, May 19 at 5 p.m., or attend the next public hearing at Wake Tech RTP on Tuesday, May 9 at 6 p.m. — there will be three more meetings to follow.