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Wake Forest manager presents FY26 budget with no tax increase; personnel and retirement costs highlighted
Summary
Town Manager Kip Padgett presented the proposed FY2025–26 budget with no recommended tax rate change; highlights include no tax increase, increases in personnel and retirement costs, 18 proposed new positions and a planned public hearing on May 20 and final adoption on June 17.
Town Manager Kip Padgett presented the proposed FY2025–26 budget to the Board of Commissioners, saying the recommendation includes no tax‑rate increase and outlines staffing and capital priorities.
Padgett highlighted key items in the proposal: the recommended property tax rate would remain at $0.42 per $100 of assessed value; residential solid waste service would increase by $1 per month to $24; the municipal service district tax rate would remain at $0.14 and the vehicle fee would remain at $0.30. An electric rate increase of 3% is included in the proposal.
Padgett said the budget is balanced and that…
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