Hello Rolesville,
I would like to take some time to discuss a pressing topic that is impacting us as a community. I have heard your concerns about the recent property tax increases resulting from the County's property revaluation.
Wake County assesses our property values every four years; this was done in 2020, and again this year in 2024. In Wake County, property values increased overall on average 50.6% between 2020 and 2024.
Here in Rolesville, the average increase was 50.7%, however, depending on where you live and how old your house is, this increase was higher or lower than 50.7%. Personally, my property taxes increased 53%. Like many of you in the town, I'm on a fixed income and that increase is felt.
One thing Rolesville did to lessen the anticipated tax increase impact was to reduce our property tax rate from 46 cents per $100 valuation to 40 cents. In comparison, Wake Forest's rate is 42 cents, Knightdale's is 44, Wendell's is 42 and Zebulon's is 57 cents.
The reality is that everything costs more now. In the last four years, the U.S. Bureau of Labor Statistics reports that inflation increased on average approximately 18% since 2020. The Town of Rolesville is feeling those impacts itself. Over the last five years, we've seen increases in salaries, benefits, equipment and operating costs. As is the case all over the Triangle, adjustments had to be made to continue to provide quality services to residents, and to retain our talented workforce and stay competitive in the region.
While it may be of little comfort, when we think about the inflation that has occurred over the past 4 years, the price increases of homes, cars, and other essentials, the fact that we are in a high demand area that is one of the fastest-growing in the state, if not the country, an atypical tax increase on our properties was to be expected.
There will not be another revaluation until 2028. We will continue to do everything we can to keep the Town of Rolesville the best it can be for the years to come. We are all in this together.
Ronnie Currin
|