Padgett maintains same tax rate
Tuesday evening Wake Forest Town Manager Kip Padgett unveiled his budget for fiscal 2019-2020 beginning in June which keeps the property tax rate at 52 cents and all fees the same as last year. Wednesday morning Padgett, Chief Financial Officer Aileen Staples, Senior Budget Analyst Ben Blevins and Communications and Public Information Director Bill Crabtree held an information session for local reporters. The town is prosperous and growing. The population is now 45,264 officially and an estimated 2,000 people move into town each year. The combined tax base in Wake and Franklin counties is $5,658,750,000 and growing with each new house and business. The general fund budget for 2019-2020 will be just over $48 million and the electric fund budget is $22,711,250. The new aquatic center in Holding Park will open under contracted management over the Memorial Day weekend for its first full year of operation. The community center in