Would you rather the Wake County Board of Commissioners just pass the bulk of the tax increase for the school bond issue next year or phase in the increase over multiple years?
As noted in today’s article, the funding scenario from county staff was for taxes to go up 4.86 cents per $100 of property value in the 2014-15 budget to pay for the bond debt costs. An additional tax increase of 0.67 cents would be spread out during the following four years to pay for operating the new schools as they open.
But Joe Bryan, chairman of the board of commissioners, said Wednesday the panel will have “serious discussions” about phasing in the 4.86-cent tax increase over multiple years. He said they might be able to raise taxes by only two cents next year to provide the money for the school system’s immediate needs.