Cary proposed budget increases staff pay, funds Downtown Park. What that means for taxes

Cary’s proposed budget would leave town property taxes unchanged and add funds for employee raises and more police officers while supporting operational costs and new employees for the Downtown Cary Park.

The proposed $443.6 million budget is $43.5 million, or 10.9%, more than the budget for the current year. If approved, the budget would go into effect on July 1.

Pending approval, the 2022-23 budget would bring funding to hire six new police officers and allocate $2.6 million to purchase 36 new police vehicles, ensuring one vehicle per officer.

The budget would include an additional $1 million for police operations, salary, vehicles and benefits

To fund the operational costs and nine park employees initially needed for the Downtown Cary Park, the proposed budget sets aside $2.5 million. The park is expected to be completed by late spring or early summer next year and will be “actively programmed” with events, the town said.

Under the proposed budget, the town property tax would remain at 34.5 cents per $100 of the house’s assessed value. A Cary resident owning a median-value home with an estimated worth of around $375,000 would pay $1,293.75 in property taxes.

Stacey Teachey, financial strategy and analysis director, said the town’s tax rate remains the lowest of Wake County municipalities.

The town says that 1 cent of the property tax rate generates about $3.4 million.

In Wake County, the proposed budget would call for an additional 1.5 cents in county property taxes, totaling 61.5 cents per every $100 the house’s assessed value. A Cary resident with a median-value home would pay $2,306.25 in county property taxes.

Combing the proposed county and town property taxes, a Cary resident with the median value home could expect to pay $3,600 in taxes

Employees for the town could see benefits designed to promote retention, including an average merit-based raise of 5%, an annual reimbursement program and enhanced leave options.

Affordable housing would gain $2.9 million from the capital improvements budget, $1.1 million in additional town funding and $5 million from the American Rescue Plan Act. According to the proposed budget, the money provided from ARPA is intended to begin the Cary Housing Plan, which the Town Council unanimously approved in November 2021.

Other budget highlights

▪ Cary residents would pay $1.50 more each month for solid waste and recycling with the proposed budget, totaling monthly costs for services at $22 per month, over 7% more than required for 2022.

▪ Water, sewer and irrigation fees would increase by 3% for those living in Cary, costing an average family of four $2.30 more per month for utilities.

▪ Sidewalk and pedestrian projects funded with $8.5 million from the capital improvements budget, $5 million saved in the 2022 fiscal year and $7 million from the American Rescue Plan Act.

▪ $7.3 million going to improve streets.

▪ $5 million reserved to improve town facilities.

▪ $3.3 million for improvements in stormwater.

▪ $1.3 million for Americans with Disabilities Act improvements to make town facilities more accessible.

▪ $500,000 toward historic preservation.

▪ $350,000 to fund a Cary bike plan study.

▪ $150,000 to fund an electric vehicle study

What’s next?

The first of two public hearings was May 26, though no Cary community members attended or wrote in to discuss the budget.

The second public hearing will take place on June 9.

The budget remains scheduled for adoption on June 23.