Residents have voted for their town council to borrow £500,000 to fix a wall that forced the closure of Bridgnorth Cliff Railway.
Bridgnorth Town Council will apply for a government loan which will see £8-per-year put onto resident's council tax.
The railway has been shut for over a year with the final bill to fix the retaining wall costing £750,000.
Town clerk Clare Turner said the loan was "a little bit like a mortgage".
"The loan is £500,000 to cover over 25 years... that means it has an increase in our precept and is about £8 per year [for residents]," Ms Turner said.
The cliff railway is due to re-open later this month.