- Town Manager Kip Padgett presented the Fiscal Year 2026-27 budget to the Board of Commissioners for consideration on Tuesday, May 5.
- The proposed budget includes no change in the property tax rate ($0.42 per $100 of assessed property valuation) or vehicle fee which remains at $30, and a one cent decrease in the downtown municipal service district tax (from $0.14 to $0.13 per $100 assessed property valuation).
- The proposed budget calls for a $1/month increase in the residential solid waste fee (from $24 to $25/month) and no change in either Wake Forest Power’s residential energy charge or Stormwater Utility fee structure.
- A public hearing to receive public comment is scheduled during the regular Board of Commissioners meeting on Tuesday, May 19, at 6 p.m.
- Community members may also visit Engage Wake Forest at https://engagewakeforest.org/ to share their thoughts and opinions on the proposed budget.
WAKE FOREST, NC – Town Manager Kip Padgett presented the Fiscal Year 2026-27 budget to the Board of Commissioners for consideration on Tuesday, May 5. Aligned with the goals and strategies detailed in the Town’s strategic plan, the budget will serve as the financial and spending plan for the next fiscal year. Once adopted, it will authorize resources and establish a direction for Wake Forest programs and services for the period July 1, 2026, through June 30, 2027.
The proposed budget includes no change in the property tax rate ($0.42 per $100 of assessed property valuation) or vehicle fee which remains at $30, and a one cent decrease in the downtown municipal service district tax (from $0.14 to $0.13 per $100 assessed property valuation).
The proposed budget calls for a $1/month increase in the residential solid waste fee (from $24 to $25/month) and no change in either Wake Forest Power’s residential energy charge or Stormwater Utility fee structure.
The presented budget also proposes 25 new full-time positions, including 14 firefighters, and several major initiatives, such as a Downtown Transportation Study, Five-Year Strategic Plan Refresh, S-Line Design, Ailey Young House Design, and Toms Creek Watershed Improvements.
Community members are invited to view a three-minute budget overview video at https://bit.ly/TOWFBudget, along with a digital copy of the proposed budget-in-brief until Tuesday, May 19. On that date, a public hearing is scheduled during the regular Board of Commissioners meeting to receive public comment. The meeting begins at 6 p.m. in the Town Hall Board Chambers, 301 S. Brooks St.
Community members may also visit Engage Wake Forest at https://engagewakeforest.org/ to share their thoughts and opinions on the proposed budget. All comments received will be shared with the Board of Commissioners for consideration and will become part of the public record.
Final budget approval by the Board of Commissioners is scheduled for the June 16 meeting. For more information, visithttps://bit.ly/TOWFBudget or email Budget & Performance Director Michelle Daniels atmdaniels@wakeforestnc.gov.