The FY25 budget will reflect changes to the City’s property tax base resulting from Wake County’s
county-wide re-evaluation of real estate values. The FY25 budget does not recommend a revenueneutral rate. The tax rate proposed for this budget is $0.355, or 35.5 cents per $100 of property
value. This is an 11-percent increase over the revenue-neutral rate. A median home valued at
$391,705
source: City of Raleigh FY2025 Budget Doc
https://cityofraleigh0drupal.blob.core.usgovcloudapi.net/drupal-prod/COR11/Fy25-adopted-budget.pdf