Cary voters this election season will decide whether to support a series of bond proposals that would pay for projects on parks, housing and libraries.
Town voters will decide on two bond referendums:
- A $560 million bond that would fund several parks and recreation projects
- A $30 million bond that would pay for housing projects and programs to help lower-income residents
A bond referendum is a voting process that gives voters the power to decide if a municipality is authorized to raise funds through the sale of bonds.
Early voting started on Oct. 17 and runs through Nov. 2. Election Day is Nov. 5.
“We’re absolutely looking to find out what our how our residents feel, whether the appetite is there for it,” said Assistant Town Administrator Danna Widmar about the town’s two bond referendums.
Widmar told WRAL News in June the average cost of a house in Cary was $647,748.
It means by 2030, a homeowner whose property is worth that average would pay about $582.97 more in taxes for the two town referendums.
“I think every individual is going to vote based on their own interests and based on what they think is reasonable,” Widmar said.
Widmar said if the bonds are passed, residents can help participate in the planning of the projects and volunteering.
On top of the town referendums, Wake County is also asking voters to authorize a $142 million bond referendum to build, expand and renovate local libraries. If approved, Wake County homeowners with homes valued at $647,748 would pay about $16.19 more in taxes.
If the the two Cary referendums and the Wake County library referendum are passed, it would cost the average Cary taxpayer $599.17 more by 2030.
WRAL News asked Widmar why the bond proposals are necessary now.
“I think probably the biggest reason is things are not getting less expensive,” Widmar said. “So, most of these projects have been decades in the planning, and so, we’ve had concepts and known ideas about what our needs are in our community, which continues to evolve and grow.
“And so, we know that what a facility costs today is only going to cost more five years from now.”
Plus, the average Wake County property tax is already increasing by 53% compared to 2020.
Here’s an explanation of the referendums up for consideration.
$590 million total for two Cary bond referendums
If the $590 million bonds are approved, Cary’s property tax rate would increase by 9 cents. It would cost Cary property owners:
- Parks and recreation referendum: $85 for homes valued at $100,000.
- Housing referendum: $5 for homes valued at $100,000
The current plan, which could change, is to phase in the increase — 3 cents in 2026, 3 more in 2028 and 3 more in 2030.
$142 million bond referendum for Wake County libraries
Wake County voters will also decide on a $142 million bond referendum to build, expand and renovate local libraries. If approved, homeowners with homes valued at $100,000 would pay an estimated $2.50 more per year.
The last bond referendum for libraries was held in October 2007 for $45 million in renovations, replacements and expansions.
That referendum passed with 70% voter approval.
Cary bond referendum: $560 million bond for parks and recreation
The $560 million parks and recreation bond would help the town move forward with six community projects:
Asian garden master plan: Allocating $10 million for a master plan to construct a 1- to 2-acre Asian garden.
Cary tennis and pickleball expansion: Plans totaling $60 million would expand the Cary Tennis Park clubhouse and stadium while adding 25-30 new pickleball courts.
Mills Park Community Center: A $150 million multi-purpose center in western Cary designed to cater to the needs and interests of people of all ages and backgrounds. The vision is for a community center that provides a wide range of facilities and programs, and includes access to basketball courts, senior activities, an indoor playground, multi-use classrooms plus ceramic studio, aerobic gyms, space for fitness and weight training, plus a walking track.
Nature Park master plan: Following its purchase with funds from the 2019 Shaping Cary’s Tomorrow Bond, this 217-acre former farmland on Earnest Jones Road in Chatham County would become a future park aimed to offer an immersive experience while protecting and preserving open space and natural elements. The $10 million project may include basic amenities such as hiking trails, restrooms and parking. Additionally, it may involve stabilizing the historic home site within the park boundaries.
Sports and Recreation Community Center: A $300 million multi-generational sports and recreation community center situated in the redeveloping South Hills district. Planned features would include a 70,000-square-foot community center with amenities for seniors, an esports center equipped with gaming stations and streaming facilities, and an 80,000-square-foot sports center with eight multi-purpose courts.
Walnut Creek Greenway: A $30 million continuation of the 2018 Adaptive Stormwater initiative, this greenway along Walnut Creek would span three miles when completed. It would link Downtown Cary Park, Fenton, WakeMed Soccer Park, the Triangle Aquatic Center and South Hills District.
Cary bond referendum: $30 million bond for housing projects and programs to lower-income residents
The $30 million would help in four areas defined in the Cary Community Plan vision and the 2021 Cary Housing Plan:
New housing opportunities: The bond would help with the expansion of housing options, including property acquisition, predevelopment costs, housing development gap financing and homeownership programming.
Housing rehabilitation and affordability preservation: Bond funds would also be dedicated to preserving Cary’s existing affordable housing stock. This area includes funding for the Healthy Homes Cary Program as well as rehabilitation gap financing for rental property owners reinvesting in aging multi-family properties.
Housing stability support: Bond funds would also be used to support residents going through financial hardship including workforce development, digital equity and senior programming.
Nonprofit capacity building: Cary does not operate a housing authority and is not a developer, so the town works in close partnership with area nonprofit organizations to accomplish this work. Bond funds would support the organizational capacity of nonprofits working in the housing sector.
Wake County property taxes already increasing by 53% on average
Property bills are already going up around the Triangle. Some Wake County property owners are seeing increases of hundreds or thousands of dollars.
Fiscal year 2025 (July 1, 2024 – June 30, 2025) is underway, which means people have seen the increases in their payments that result from higher home values.
Properties in Wake County went through a revaluation this year. Wake County homes are seeing a 53% property value increase on average compared to 2020.
People can search for their Wake County property taxes by clicking or tapping here.
