Your Money

The fiscal year 2012 Adopted Budget is $952.1 million. The budget - for July 1, 2011, to June 30 2012 - maintains the property tax rate at 53.4 cents and the same level of funding for the Wake County Public School System.

Real estate owners whose prior year bill was paid electronically through a mortgage escrow account will not receive a current-year bill in the mail. The change will affect 149,000 property owners and will save Wake County approximately $67,000 in printing, mailing and postage costs. Statements are available for printing from the County’s website.

The County issued and sold tax-exempt general obligation bonds, the least expensive way to borrow money, to fund:

• $100 million for Wake County Public School System capital projects, which includes funds that will be used towards the construction of Rolesville High School
• $10 million for Open Space, including funds that will be used for the County’s contribution towards the cost of the Neuse River Trail