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Wake Forest presents FY 2026 proposed operating budget with no property tax rate increase
Summary
Town staff presented a FY 2026 operating budget that holds the property tax rate at $0.42 per $100 of assessed value, proposes 18 new positions, and anticipates roughly $139 million across all operating funds; adoption is scheduled for June 17.
Town staff presented the Town of Wake Forest’s proposed fiscal year 2026 operating budget on Tuesday, saying the proposal leaves the property tax rate unchanged and spreads growth across personnel, operating and capital costs.
The manager’s recommended budget approaches $94 million for the general fund — about 5% above the current year’s amended budget — and the all‑fund summary is just above $139 million, according to staff. The recommended property tax rate stays at $0.42 per $100 of assessed value; staff said the town expects 3.42% organic growth in the tax base for FY 2026 and is using a 98.5% collection rate in its estimates.
Staff said sales tax revenue is budgeted at $17 million for FY 2026, representing roughly 18.1% of general fund revenue, and noted the FY 2025 year‑end estimate is about…
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