CARY — The Town Council on Thursday approved a $307 million budget for the coming year that includes a 2-cent property tax increase.
The tax hike is part of a bonds package voters approved last year. The town’s tax rate will jump to 35 cents per $100 of valuation, the lowest rate in Wake County.
Residents will also see some other fee increases. Garbage, recycling and yard waste fees will jump by $1 a month. Average utility customers will pay a 4.7 percent increase, or about $2.83 more each month, to help pay for a new wastewater treatment plant in western Wake.
The cost of building permit fees will increase 5 percent.
The budget will fund nearly 30 new positions. About 60 percent of them will work at the wastewater plant.
Projects include $66.4 million to expand the Cary/Apex water-treatment plant, $4 million to repave streets and $2.1 million for the Morrisville Parkway interchange with the Triangle Expressway.
The town will transfer $4.5 million from its fund balance to help pay $6.1 million of debt from bonds from a decade ago.
On Thursday, council members said they were pleased with the budget, although they wished it could have included money to hire more workers, focus on technology and more.
“Aside from all the regrets, I’m happy with this budget, given what we had to work with,” said Councilwoman Jennifer Robinson.