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Cary projects modest sales tax gain but small shortfall in property-tax revenue for FY26
Summary
Assistant Town Manager Stacy Tietje told the council the town projects $62.2 million in sales tax receipts for fiscal 2026 (about $2.5 million over budget in this projection) while property-tax actuals are estimated to be roughly $1 million below budget; building permit revenue is projected above budget, and solid-waste fees rose.
Assistant Town Manager Stacy Tietje presented the town's revenue review for fiscal 2026 and early projections for 2027. For sales tax, staff reported year-to-date receipts through April and a projection of $62,200,000 for FY26, which would be about 4.2% over budget (roughly $2.5 million), though two months of receipts remain and staff cautioned the figure can change as final distributions arrive.
"We are projecting $62,200,000 in sales tax, which would exceed budget by about 4.2% or $2,500,000," Stacy Tietje said, while noting those two months of receipts could lower or raise the final total. On property taxes she said FY26 collections are estimated to be about 0.56% below budget—approximately $1,000,000 short—while the town collected more than the prior year overall because of a tax-rate increase of 1.5¢ in 2026.
Tietje also provided brief updates on building-permit revenue and solid-waste fees: building permits are volatile but projected above budget for FY26, and solid-waste revenues rose after a fee increase and are collected via utility billing with the revenue credited to the general fund for public-works expenditures.
