Cary residents will see a property tax increase under the town’s 2026 fiscal year budget, which the Cary Town Council unanimously approved at its meeting Thursday evening.
The budget comes out to a total of $510.9 million, about a 2.7 percent increase over last year’s.
It also reflects a property tax increase from 32.5¢ to 34¢ per $100 valuation.
Cary isn’t the only municipality to raise taxes this year—Durham’s recently-approved budget also increases property taxes, as does Apex’s plan, to 35.5¢ per $100 valuation. Raleigh’s tax rate remains steady this year, also at 35.5¢.
“In my district, District B, our area median income is significantly lower than other parts of Cary overall, and I know many people are houseburdened and an increased property tax can be difficult for many,” said council member Michelle Craig at the meeting. “I also know as costs are rising for individuals, it’s rising for us as a municipality as well. This is not just a Cary issue.”
Despite the increase, mayor Harold Weinbrecht said Cary’s tax rate remains the lowest in Wake County. He added that determining this year’s plan was the most difficult budget process that he’s been involved in.
“I know there’s some citizens that are not going to be happy with the budget. I’m not happy with the budget, but it’s the best we could do if we want Cary to remain the best of the best,” he said.
Of the total budget, about $420.3 million will go toward town operations and $90.7 million to capital projects. Other changes include an increase to water and sewer rate fees and a solid waste fee of $25 (compared to the $22 from the previous year).
District A council member Jennifer Robinson noted that the council voted to defer or indefinitely pause 68 capital projects, something she said was a huge decision to consider because Cary prides itself on its exemplary infrastructure. But 125 capital projects, including the Healthy Homes Cary program, development of a GoCary Multimodal Center, and advancements at the Downtown Cary Park will continue moving forward, and 198 long term projects were marked as complete.
Multiple town council members emphasized the months of work it took to reach the final budget, thanking their team, staff, and Cary community members for their responsiveness throughout the process.
“I want you to know that there was genuine effort made to get to the point where we are today,” said District D council member Sarika Bansal.
Council members agreed that, despite the rate increases, the final was a collaborative effort that produced an appropriate budget for Cary’s priorities, funds, and expected revenue over the next fiscal year.
“This is a bare-bones budget that makes sure that all of our basic needs are met and that we don’t go backwards, that we continue to provide the services that our citizens want,” said District C council member Jack Smith. “And I’m proud of that.”
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