Yes - This is not a state park, so your annual pass will not work here. Bring some cash.
Pros
This is one of my favorite hikes.
Very wide, and well-maintained trail.
The hike is largely along a nice creek.
Several nice, smaller waterfalls and cascades along the way.
Cons
The very end of the hike has a steep climb up to the actual Raven Cliff waterfall. It can be dangerous, but you won't be able to see the waterfall otherwise. Be careful with small children.