Raleigh Proposes Property Tax Increases!
Attention all Raleigh property owners! After Tuesday’s City Council meeting this week, the City of Raleigh has included a property tax increase in its proposed budget.
This tax rise will be about a 4.2% increase for Raleigh owners broken down in the following:
Raleigh increase of 1.72 cents per $100 in property valuation
Wake Co. increase of 2.9 cents per $100 in property valuation
The 4.2% increase is part of the $435 million general fund budget Raleigh will be using to prepare for more growth in the Capital city, including new schools and park bonds.
But property taxes aren’t the only new expenses for Raleigh owners and residents.
A few takeaways for your compass:
Solid-waste fees would increase by 75 cents per month, bringing the typical residential customer’s monthly bill to about $14. The increase would help pay for equipment upgrades, such as devices for tracking trash-collection vehicles.
The new budget also would institute parking fees for downtown decks at night and on weekends. Beginning Dec. 31, the night and weekend parking fee would be $5, with the extra funding paying for new equipment and improved maintenance for parking facilities.
The proposal provides for average salary increases of 2.9 percent for city employees. It also adds nearly 60 jobs throughout the city to a current workforce of about 4,050.
City Manager Ruffin Hall said the proposed hiring is meant to keep pace with a growing population. For example, city employees are conducting more building inspections than at any time since the recession, he said. As a result, the proposed budget would add six inspectors and five more development services staffers.
The new hires also would include eight new police officers, along with significant hiring for public utilities and public works.
With an eye toward downtown development, the city would spend $200,000 to study and plan new parking for the city center. It would spend $800,000 to study the possibilities for consolidating the government’s downtown offices.
In all, the proposed general fund budget would grow about 4.4 percent over the current budget.
For Raleigh business and property owners, your increased fee’s will help bring in the $1 Million goal for the City of Raleigh next year.
To voice your concern over property increases, there will be a public hearing June 2nd, 2015 at 7pm.
PLEASE ATTEND if you have any interest in city government and taxation.
- Capital Compass