Cary continues with a tight budget with the 2011 budget expected to be the smallest of the last three years. Not only do families have to tighten their belts across the country, but so are towns everywhere. It is anticipated that Cary will enter next year with a $4 million surplus. In 2008 the recession started impacting the town when sales revenues and building permits began to drop. As a result of the dip in revenue it led the town to budget 52% less for building permits this current fiscal year. Not only did the town budget less for building permits, but also budgeted 24% less for sales tax returns.
With the holiday season being stronger than anyone would have expected, the town was able to beat sales tax revenue expectations by a whopping $1.6 million. Not only did Cary collect more than expected in sales tax they raked in another unexpected $1 million in property taxes. These savings have allowed the town to not have to raise taxes for another year. Towns have been advised to prepare budgets for 2011 similar to that of what they prepared this year, giving little increase to travel and training.
Want to make a difference in Cary? The town of Cary is now looking to fill 30 vacancies on the town's 10 different Citizen Advisory Boards and Commissions. Applications are being accepted until June 30, 2010, and those appointed will be announced in September.
If you are interested in buying a home in the Cary area, now is the time to contact Marti Hampton and Team Marti at RE/MAX One Realty. Let our experience find you the perfect home.
Comments(0)