The Wake Forest Board of Commissioners, in their June 17 meeting, unanimously voted to pass a $139 million budget for the fiscal year 2025-2026. According to an official announcement released by the Town of Wake Forest, the budget aligns with the Town's strategic goals and strategies to "serve as the financial and spending plan for the next fiscal year, authorize resources, and establish a direction for Wake Forest programs and services."
The newly approved budget reflects a steady course for the town's finances with no increase in the property tax rate, which stands firmly at $0.42 per $100 of assessed property valuation. Similarly, there are no variances to the downtown municipal service district tax or vehicle fee, locked at $0.14 per $100 assessed property valuation, and $30 respectively. However, the budget will see a $1/month bump in the residential solid waste fee, and a 3% rise in the residential energy charge by Wake Forest Power. The latter will average an increase of about $3/month, come September 1, 2025.
A significant inclusion in the budget is the addition of 18 new full-time positions, among them five Stormwater Utility crew members and five employees at the Wake Forest Center for Active Aging. The Town of Wake Forest 's announcement indicated that it will "assume operational and programming responsibilities" of the center on July 1, signaling an enhanced commitment to its senior residents.
In terms of infrastructure and development, the budget does not deviate from the Stormwater Utility fee structure, maintaining the status quo. These fees are leveraged to address stormwater runoff and pollution, crucial in preserving the quality of waterways within the town. Moreover, the retention of the current tax rates, and fees, ties into an overarching theme of steady continuation while the town pivots to shoulder new responsibilities and expand services.
