WAKE COUNTY, N.C. – Property owners in Wake County will soon be paying more in property taxes.

• Wake County property owners will get a 10 percent tax hike in 2020.
• Wake Commissioners voted 6-1 to increase the tax.
• They say the hike will better fund education, increasing the WCPSS budget substantially. 

The Wake County Board of Commissioners voted 6-1 on Monday to adopt a $1.47 billion budget for Fiscal Year 2020, which includes a 10 percent property tax hike to fund investments in education, public health and safety, and quality of life.

The increase means property owners will now pay an extra $66.30 in property taxes for every $100,000 of assessed value.

RELATED: Wake County Commissioners Approve 2020 Budget

Commissioners say the increase will allow a $45 million increase to funding for Wake Public Schools in the next year, bringing the total budget for WCPSS to $515.9 million.

According to the commissioners, increased educational funding accounts for 82 percent of the increase, and the remaining 18 percent will fund county needs.

The 2020 fiscal year runs from July 1, 2019, to June 30, 2020.