Wake County voters could see nearly $900 million in school, Wake Tech bonds this fall
Wake County leaders want nearly $900 million in bonds for the Wake County Public School System and Wake Tech Community College.
On Tuesday, the Wake County Board of Commissioners got an overview of how the $883 million would be spent between the two education systems.
Commissioners voted unanimously to move the process forward.
Here’s what you need to know:
Financial impact
If approved by voters, the general obligation bonds would result in a 1-cent property tax rate increase next year. That would cost someone with a home valued at $337,000 about $34 more a year in their county property tax rates.
If the bonds are not approved by voters, the county would likely pursue limited obligation bonds which are slightly more expensive.
“Due to increased cost, (the) county may have to adjust its level of support for schools and Wake Tech respective capital programs and/or adjust its FY24tax levy,” according to the Wake County presentation.
WCPSS Bond
The school bond would include $530.7 million for new schools, school replacements and program requirements for Wake County Public School System.
The bond amount would be coupled with $134 million in cash for a combined $664.7 million.
The new schools would include:
- Pleasant Plains Elementary School (Apex)
- Bowling Road Elementary School (Fuquay-Varina)
- Wendell Elementary School (Wendell)
- Parkside Middle School (Morrisville)
- Unidentified High School (West Cary and Morrisville)
The schools listed for replacement include:
- Lockhart Elementary School (Knightdale)
- Brentwood Elementary School (Raleigh)
- Briarcliff Elementary School (Cary)
- Washington Elementary School (Raleigh)
- North Garner Middle School (Garner)
- Ligon Middle School (Raleigh)
- Athen Drive High School (Raleigh)
WakeTech Bond
The WakeTech bond would include $353.2 million for new buildings and repairs.
The “major protects” being considered by WakeTech:
- New Health Sciences Building and parking deck
- General Education Building
- Culinary Science Building
- Cyber Science Building and parking deck
Next steps?
A public hearing is scheduled for July 11 for the two bonds. After that, the Wake County Board of Commissioners could adopt the bond orders and the bonds would be placed on the Nov. 8 ballot.
