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Under North Carolina law, a referendum for the purpose of issuing General Obligation (GO) bonds must specify a category of capital projects for which the bond proceeds may be used. Voters are asked to authorize their government to use the GO bonds as a financing tool for that specific category of projects, up to the amount specified in the ballot question. Within each category, a local government may identify specific projects to be funded by the bond proceeds (the “bond package”). However, due to the lengthy process involved with identifying, designing, and implementing projects, as well as the lack of detailed cost and other project information available at the time of the bond referendum, the specific projects identified in the bond package may change over time, as long as they remain within the category authorized by the voters.

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.