July 13, 2024 11:05 pm
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Local News

Property Taxes on the Rise Across the Triangle

Credit: iStock

Residents in Wake, Durham, and Orange counties are bracing for higher property tax bills this year as municipalities across the Triangle set new rates. Despite concerns over rising prices, every town and city in Wake County has adjusted their property tax rates above the “revenue-neutral rate” following the latest property valuations, leading to significant increases for homeowners.

The primary driver behind these hikes is the need to raise wages for city and county workers, including police officers, teachers, and sanitation workers. Local governments are struggling to retain and attract employees amidst competitive private sector wages. As a result, residents like 74-year-old Judy Springer in Morrisville worry about the financial strain these increased taxes will place on low-income and elderly homeowners.