Forsyth County Bond Referenda
Forsyth County, North Carolina residents will be voting next week on a set of bond issues totaling $430 million. The largest one is $350 million for local schools, but there are two others as well: $65 million for the community college and $15 million for county parks and recreational facilities. Since bonds are debt, and they have to be repaid with interest, they are usually accompanied by some sort of tax increase. This set of Forsyth County bond issues is no exception.
Currently, Forsyth County property taxes are $0.731 on each $100 of property valuation. If the bond referenda all pass, that rate would jump to $0.767 in 2018 and again to $0.805 in 2022.
Increasing property taxes for years to come is a big decision with long-term impact that can’t be fully anticipated. Likewise, the projects that are being considered will take many years to complete. Voters should be careful, and really take some time to think through these referenda.