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Fuquay Varina adopts $76.6 million general fund budget with no property tax increase; water and sewer rates to rise 15%
Summary
On June 2 the Fuquay Varina Board adopted the fiscal year 2025–26 operating budget, keeping the property tax rate at 35.8¢ per $100 of assessed value, maintaining the $23 monthly solid-waste fee, and approving a 15% increase in water and sewer base and volumetric rates; the board also authorized Wake County to collect town taxes.
The Fuquay Varina Board of Commissioners adopted the fiscal year 2025–26 operating budget on June 2, approving a general fund budget of $76,565,157 while leaving the town’s property tax rate unchanged at 35.8 cents per $100 of assessed value.
Town manager Adam Mitchell said the budget process was public and noted the general fund total in presenting the adoption motion: “The recommended budget for the general fund totals $76,565,157. The budget maintains the current property tax rate of 35.8¢ per hundred dollars of assessed value and does not include any changes to the monthly solid waste fee.”
The adopted utility operating fund totals $34,386,973. The board approved a 15% increase in water and sewer base and volumetric rates to generate revenue projected to cover higher water-supply and wastewater-treatment costs and debt service tied to system investments. The manager also said the recommended budget includes an adjustment to the sewer system development fee; staff stated that the fee was increased by $355 for a standard 3/4-inch meter and that system development fee details were posted with the budget materials.
Solid waste service fees will remain at $23 per month under the adopted budget. Finance director Mark Stevens noted the town’s long-standing relationship with Wake County for tax collection and said the county’s fee for collection services is “0.75%, so less than 1%.” The board adopted a resolution authorizing the Wake County Tax Administrator to levy and collect town taxes for the fiscal year.
The five-year operating and capital plan that accompanies the budget was adopted as presented. Manager Mitchell said the plan anticipates annual water and sewer rate adjustments over the five-year horizon to fund supplier costs and debt service; he also said the five-year plan does not assume any future property tax rate increases.
The board adopted the budget and related fee schedule and five-year plan by voice vote; the mayor recorded the adoption as unanimous.
