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If the referendum passes, it will have the following tax effect:

  • In 2026 the tax rate will increase $42.50 per $100,000 of tax valuation. For example, a $400,000 home would see an annual increase of $170 ($14/month)
  • In 2028 the tax rate will increase to $72.50 per $100,000 of tax valuation. For example, a $400,000 home would see an annual increase of $290 ($24/month)

The information included on the ballot will be very generalized. The bond referendum will be listed on page two of your ballot, and you can view a sample ballot here.

 

The projects selected were used to establish the $25 Million bond amount.  These projects consist of the following:

– Belmont Middle School Connector

– South Central Avenue Pedestrian and Turn Lanes, including pedestrian improvement at Central Avenue/Main Street intersection

– Perfection Avenue at Pebble Creek & Pleasant Pedestrian Improvements

– Nixon Road Multi-Use Path (MUP)/Sidewalk

– South Point Road Widening from RL Stowe to Rivermist Dr

Please note that these specific projects will not appear on the November election ballot, as Council can choose their priority projects at the time of funding.  The issuance of general obligation bonds shall be for the following purposes and in the following maximum amounts: $25,000,000 of bonds to provide funds to pay the capital costs of acquiring, constructing, reconstructing, widening, extending, paving, resurfacing, grading and improving streets and sidewalks, including, without limitation, curbs, gutters, drains, bridges, overpasses, crossings, lighting, traffic controls, signals and markers, bicycle lanes, and landscape, streetscape and pedestrian improvements, and the acquisition of land, rights-of-way and easements in land required therefore.

More detail on each project can be found in the links below.

Transportation Bond Presentation Agenda Memo

May 23, 2024 Council Meeting Minutes

May 23, 2024 Council Meeting Recording (Discussion begins at the 28 minute mark)

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