Wake County is proposing a lower tax rate for its $2 billion budget

More than half of Wake County's $2 billion proposed budget would go toward education , if county commissioners approve spending priorities put forward by county manager David Ellis.

Why it matters: The county is responsible for a variety of public spending, including Wake County Public School System. It also sets the tax rate that landowners in the county pay.

Driving the news: Property values soared by 50.6% across Wake County between 2020 and 2024 — the largest-ever increase during a four-year re-evaluation cycle .

• To take that growth into account, Ellis proposed decreasing the current tax rate from 65.7 cents per $100 of valuation to 51.05 cents per $100 of valuation.
• That would mean a resident who owns a $462,000 home — about the median assessed value in the county — would have a tax bill of $2,358.
• Whether or not that is more than a previous resident's tax bill will depend on how much their property value has appreciated over the last four years.

By the numbers: More than half of Ellis' proposed budget is directed toward education, including:

• $693 million for Wake County public schools, an increase of $49 million. Wake County Public School Superintendent Robert Taylor had asked the county earlier this year for an increase of $58.3 million .
• Wake Technical Community College's budget would increase by $3.4 million to $40.9 million.
• Spending on pre-K programs would be $7.7 million.

The budget also calls for:

• Adding 10 new ambulances to the county's fleet
• 16 additional law enforcement officers to the Wake County Sheriff's Office
• $3 million more for WakeBrook, a local behavioral health crisis response facility
• Adding another $4.5 million to the county's affordable housing program

What's next: Wake County will hold a public hearing on the budget at 2pm on May 20 at the Wake County Justice Center in room 2800 (300 S. Salisbury St. in Raleigh), per WRAL .

• Another public hearing will take place May 21 at 7pm in the Commons Building at 4011 Carya Drive in Raleigh.
• The budget could be voted on in June.

Go deeper: Read the county manager's budget presentation