The Cary Town Council is set to vote on a new $573 million budget, which includes a property tax increase and two additional positions to help with oversight in the finance department. This move comes as the town works to regain the community’s trust after former town manager Sean Stegall’s resignation in December 2025, following investigations into the town’s financial mismanagement.
Proposed Budget and Tax Increase
The proposed budget creates two new roles in the finance department to enhance internal capacity, improve oversight, and support stronger financial controls, according to interim town manager Russ Overton. The current property tax rate for Cary residents is 34 cents per $100, and the proposed rate would be 37.5 cents per $100. For an average home in Cary, valued around $600,000, residents would pay around $2,040 per year with the current rate and $2,250 per year with the proposed rate, resulting in an increase of approximately $200 per year.
Cary residents have expressed concerns over the higher tax rate, with some protesting in front of town hall earlier this month before a budget hearing. Residents like Caitlin Horachek have voiced their desire to keep the cost of living in Cary affordable, suggesting that the town should explore other sources of income to avoid increasing taxes.
Original reporting: WRAL Raleigh — read the source article.
