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Wake County News > Posts > ​Wake County Approves $1.3 Billion Budget for FY19
June 04
​Wake County Approves $1.3 Billion Budget for FY19

Includes historic investments in education, housing affordability

The Wake County Board of Commissioners on Monday, June 4, adopted a $1.3 billion budget for Fiscal Year 2019 that includes historic investments in education and housing affordability. 

The budget provides $475.9 million in operating funds to the Wake County Public School System, a $45 million increase from Fiscal Year 2018. This record-setting total annual investment in the school district results in the highest per-pupil funding ever in Wake County.

Of that funding, $2 million is reserved to fund school counselors, social workers and psychologists per a board amendment to the recommended budget.

The adopted budget represents a $14.9 million increase in WCPSS operating funds over what County Manager David Ellis recommended in his proposed budget on May 9.

The budget also includes an additional $15 million for building and preserving housing in Wake County that working families can afford. The recurring funding for housing affordability supports a county commitment to effectively end veteran homelessness by December 2021.

To fund these historic investments in education and housing affordability, the county’s property tax will increase by 3.94 cents, bringing the rate to 65.44 cents for every $100 of property value. The tax increase would generate about $56.5 million in FY19.

With the tax increase, a property owner will pay an extra $39 in property taxes for every $100,000 of assessed value. For example, the owner of a $300,000 home will pay an additional $117 in property taxes.

The adopted budget also includes the following changes from the recommended budget:

  • The Boys & Girls Club will receive a one-time appropriation of $100,000; and

  • The Wake Smiles community dental outreach program will receive $50,000 in one-time funding.  

Other budget highlights include:  

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

The 2019 Fiscal Year runs from July 1, 2018, to June 30, 2019. More information and budget materials are available at wakegov.com/budget.


 



 

 

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