Local governments throughout Wake County recently made it more difficult for working families to make ends meet. At a time when rising gas and food prices are stretching household budgets thin, along comes another round of tax and fee increases approved by local governments.
On average, Wake County homeowners will see their property tax rate increase by 4.8 percent in FY 2008-09. This increase is a result of the .025 increase on all Wake County homeowners, along with increases in 8 of the 12 Wake County municipalities. Rate changes are in comparison with the declared revenue-neutral property tax rate for the current fiscal year.
Further, 10 of Wake’s 12 municipalities approved rate increases for either garbage/recycling fees or water and sewer rates – 3 of those 10 authorized increases in both service fees.
Hardest hit will be Wake Forest and Raleigh residents. Based on an average home value of $230,000 and monthly water usage of 6,000 gallons – Wake Forest residents will pay $246 more in the coming year due to increases in the property tax and water service rates, while those residing within Raleigh city limits will pay an additional $235.
Making matters worse, roughly 600 municipal fees are new or higher this fiscal year. See the attached files for a detailed listing of tax and fee changes for FY 08-09, and a summary of the hundreds of miscellaneous new and increased fees throughout the county.