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Wake County News > Posts > Wake County Presents $1.3 Billion Recommended Budget for FY19
May 09
Wake County Presents $1.3 Billion Recommended Budget for FY19

Includes historic investments in housing affordability, education

Wake County Manager David Ellis on Wednesday, May 9, proposed historic investments in housing affordability and education as he presented to the Wake County Board of Commissioners a $1.3 billion recommended budget for Fiscal Year 2019, which runs from July 1, 2018, to June 30, 2019.

“Through this budget, we can truly make a difference in the lives of our residents—especially those living on the margins,” Ellis said. “It provides an opportunity for us to make real progress in our board’s goal areas, particularly housing affordability, behavioral health and education.”

During his presentation, Ellis recommended investing an additional $15 million a year to build and preserve housing in Wake County that working families can afford. This recurring funding would also support a county commitment to effectively end veteran homelessness by December 2021.

In addition, Ellis proposed providing an additional $30.1 million in operating funds to the Wake County Public School System. This would bring the county’s total annual investment in the school district to a record-setting $461 million and result in the highest per-pupil funding ever.

Ellis recommended funding these historic investments in education and housing affordability with a 2.9-cent property tax increase, which would bring the county’s property tax rate to 64.4 cents for every $100 of property value. The tax increase would generate about $41.6 million in FY19.

Under this proposal, a property owner would pay an extra $29 in property taxes for every $100,000 of assessed value; therefore, the owner of a $300,000 home, for example, would pay an additional $87 in property taxes.

The recommended budget also includes:

  • Funding for Wake Technical Community College to hire faculty and staff for its new RTP campus, which is scheduled to open for regular classes in August;

  • Program funding to better coordinate access to mental health and psychiatric services for people with behavioral health needs, including school-aged children;

  • Investments in county operations to honor financial commitments, meet growing demands for services and programs, mitigate risks and address emerging needs. Efforts include opening new libraries, adding ambulances to Wake County EMS, enhancing the county’s cybersecurity and supporting a comprehensive water supply study; and

  • Support for 10 nonprofit organizations that positively affect the community in areas such as early childhood education, food security, and arts and culture.

Next steps
Members of the public are invited to share their thoughts on the proposed budget at two public hearings on May 21. The first will take place during the 2 p.m. Board of Commissioners meeting at the Wake County Justice Center; the second will be held at 7 p.m. at the Wake County Commons Building.

The Board of Commissioners is expected to vote on adoption of the county’s Fiscal Year 2019 budget at its 5 p.m. meeting on June 4.

More information and recommended budget materials are available at wakegov.com/budget.


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