Wake County anticipates school construction bond and tax increases for November 2026

Wake County officials are preparing for significant financial changes as they navigate upcoming tax increases and bond approvals. During a recent government meeting, discussions highlighted the timeline for various tax adjustments linked to approved bonds, particularly focusing on library and school construction projects.

The library bond, approved in fall 2024, will see tax increases starting in the upcoming fiscal year 2026. Specifically, a 0.5¢ tax increase is expected to take effect in fiscal year 2028, following the November 2026 bond approval for school construction and Wake Technical Community College projects. This structured approach aims to ensure that funding aligns with community needs while managing fiscal responsibilities.

Additionally, officials addressed concerns regarding a projected reduction in sales tax revenue. The anticipated decline is attributed to a general cooling of sales tax growth, which has dropped from previous highs of 8% to around 2% or even 0.5%. This trend reflects broader economic conditions affecting consumer spending and revenue generation across the state.

As Wake County moves forward, these financial decisions will play a crucial role in shaping the community's infrastructure and educational resources. The county's commitment to transparency and planning will be essential as they implement these changes and respond to evolving economic challenges.