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Cary CCSD 26 board adopts 2025 tax levy, projects $28.49 million in revenue
Summary
The Cary CCSD 26 Board on Nov. 17 approved a 2025 tax-levy resolution after a hearing that projected an estimated levy of $28,490,000 (about 3.44% over last year). District finance officer emphasized levy as the primary local revenue source and warned against under-requesting in future years.
The Cary CCSD 26 Board of Education voted Nov. 17 to adopt its 2025 tax-levy resolution, approving an estimated levy request of $28,490,000 for levy year 2025.
Mister Shepherd, the district finance officer, told the board the district’s prior-year extension was roughly $27,500,000, the CPI used for calculations was 2.9 percent, and equalized assessed value (EAV) updated to an 8.13 percent change. Shepherd said those inputs and a modest new-construction estimate (1.6 percent) yield a projected receipt of roughly $28.3 million to $28.49 million and a calculated tax rate near 2.8752 percent. “Bottom line, 2025 estimated tax levy, is $28,490,000,” Shepherd said.
Shepherd emphasized that property taxes provide the district’s most reliable funding stream. He told the board that roughly 80 percent of district revenues are locally generated and that about 70 percent of that comes from property-tax resources allocated to operating funds such as education, operations and maintenance, transportation, Social Security and IMRF. Shepherd also noted the district was briefly debt-free in 2024 and that long-term facility needs will require additional capital funding beyond current bond proceeds.
Board members asked about local development and fund balances. Shepherd said the large new development near Walmart referenced by a board member is not in a TIF district and is within an adjacent district’s boundary. He advised caution about asking for a lower levy, saying asking for less can set a lower baseline in future years and is difficult to recapture. Shepherd pointed to a countywide facilities sales tax as an alternative revenue source that some districts use for capital or taxpayer relief.
The board moved, seconded and approved the levy-resolution during the meeting; board members present recorded vocal 'yes' responses when polled by name.
What’s next: The approved levy figures will be submitted to the county as part of the formal levy/extension process. Shepherd noted two remaining inputs before the final extension is calculated by the county: the final EAV and total new property figures, which are determined in the spring.
