Holly Springs, NC, June 4, 2025 — The Holly Springs Town Council unanimously adopted the fiscal year 2025–2026 operating budget and community investment plan at its June 3 meeting. The $117.7 million budget maintains the town’s property tax rate at 34.35 cents per $100 of assessed value, which remains the lowest among neighboring Wake County municipalities. For comparison, Fuquay-Varina has kept its rate flat at 35.8 cents, while Apex increased its rate from 34.0 cents to 35.6 cents per $100 valuation.
The budget reflects the town’s commitment to strategic investments in infrastructure, public services, and mobility initiatives, aligning with the council’s long-term vision while avoiding additional tax burdens on residents.
Budget Structure and Revenue Sources
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Property Tax (46%) – approximately $54.1 million
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Sales Tax (22%) – approximately $25.9 million
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Parks and Recreation Revenues (7%) – approximately $8.2 million
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Environmental Fees (7%) – approximately $8.2 million
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Other Taxes and Licenses (7%) – approximately $8.2 million
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All Other Sources (14%) – approximately $16.5 million
The property tax rate remains unchanged at 34.35 cents per $100 of assessed value, with 21.69 cents allocated to general fund operations and 12.66 cents dedicated to community investment and debt service. This structure supports a range of capital projects and public services while maintaining one of the lowest tax rates in Wake County.
Spending Priorities and Major Projects
The budget aligns expenditures with the town’s strategic goals, broken down into four priority areas:
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Organizational Excellence – 68% (~$80.0 million)Supports internal operations, staff investment, facility maintenance, and long-term asset management.
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Vibrant Community – 15% (~$17.7 million)Covers parks, cultural events, the Sesquicentennial celebration, and the new Festival Street design.
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Community Safety – 11% (~$12.9 million)Provides resources for police, fire, and emergency response operations and infrastructure.
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Growth Management and Economic Vitality – 6% (~$7.1 million)Funds utility infrastructure upgrades and supports economic development initiatives.
Highlighted projects funded in FY25–26 include:
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Expansion of transportation infrastructure, including new road development and traffic flow improvements
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Continued development of water and sewer systems to serve residential and industrial growth
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Advancement of Eagles Landing Park into the construction phase
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Design of a Festival Street to provide a flexible, pedestrian-friendly event venue
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Launch of a microtransit mobility service in early 2026 to expand transportation options
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Support for Holly Springs’ Sesquicentennial celebration
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Upgrades to facility maintenance and asset management systems
Fee Adjustments and Cost to Residents
To support infrastructure improvements, the town is applying modest fee increases to services including garbage, yard waste, stormwater, and water and wastewater. These changes, part of a phased multi-year plan, will increase the average household’s daily cost by around 45 cents. Combined with the steady tax rate, the total daily cost of municipal services for a median-value home is projected to remain under $10 per day.
Council Reflections
Council members expressed confidence in the town’s ability to strike a balance between strategic investment and fiscal discipline. They noted that the budget supports continued growth and service improvements without increasing the tax burden on residents.
The budget was adopted alongside related ordinances and Council Order 25-01, which authorizes Wake County to continue levying and collecting property taxes on behalf of the town…