Time to study.
The School Bond
is on the ballot.
During the upcoming general election, Orange County voters will consider a $300 million bond referendum to fund facility replacements, renovations, and repairs for Orange County (OCS) and Chapel Hill-Carrboro City Schools (CHCCS). The information here will educate voters about the bond – so you can vote with confidence.
Election day is November 5 and early voting starts October 17.
Study the facts
before you vote.
FACT
The $300M bond on the ballot will fund priority improvements for OCS and CHCCS.
After a thorough assessment in 2023 of Chapel Hill-Carrboro City Schools (CHCCS) and Orange County Schools (OCS) facilities, the consultant report identified nearly $1 billion in needed improvements over the next 15 years. This 2024 bond referendum includes approval to fund $300 million of the recommendations, reflecting each district’s highest priority projects for facility modernization.
FACT
The bonds are projected to cost a property taxpayer $34.10 for every $100,000 of assessed property value.
For example, a taxpayer who owns property valued at $400,000 would see a county property tax increase of approximately $136.40 per year. The actual cost of the bonds is based on the scheduling of bond sales and the interest rate at the time of each sale. The increase could be implemented once at the beginning of the repayment period, or it could be phased in over time based on when funding is needed for specific projects.
FACT
If the bond isn’t approved, we can still make some school improvements, but they will be limited.
Without the bond, the County would have to use traditional borrowing methods that will provide about one-third of the funds needed. Repairs to existing facilities could continue to be made, but no improvement to learning environments could be achieved.
Need more answers? Check out the frequently asked questions.
The ABCs of a
bond referendum
A
What is a bond referendum?
In a bond referendum, voters decide if the government can raise money by issuing general obligation (GO) bonds. A GO bond is a way for the government to borrow money at low interest. Orange County would promise to repay the debt with interest over time. In NC, counties need voter approval to issue these bonds.
B
Why fund school projects with bonds?
Like a mortgage on a home, bonds facilitate a large, one-time investment that is paid back to the financing institution over time. Bonds for facility improvements are typically repaid over 20 years, so both current and future users of the facilities pay for the improvements through property taxes.
C
Do I vote on the bond referendum even if I don’t have school-age children?
Every voter is encouraged to participate in the election. The outcome of this bond referendum will have significant consequences for the entire County and all its citizens, so broad participation is essential to represent the opinions of the entire community.
Your vote matters.
NC State law requires that County governments fund public school facilities. So, your vote on this referendum is important. The bond will pass if a majority of voters vote “yes” on the bond question found on their ballot. The Orange County School Board Bond Referendum will be the last item on the ballot, and is located on the back page.
