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From the blog of Lori Bush, Cary Town Council At-Large member.
Cary, NC – We are all being bombarded by political ads. It’s the season for it, for sure. But there are a number of other measures on the ballot that also require our attention. One of those, is the Cary Bond referendum. (I should probably say “referendums” since there are 3 on the ballot.)
My job on the Town Council is to serve you, our citizens. This is a task of which I am immensely honored and privileged. And part of that task is to ensure that you have the services you need to work, live, play, learn and grow in the community that you call home.
During the economic downturn, the Town’s general fund revenues declined, and in 2008, Town Council made some tough decisions to do what we all did at home; re-prioritize our capital projects, canceling $24 million in projects, reallocating resources, and delaying many other projects.
We are now at a point that some of those projects need to be reconsidered if we are to continue to support the high quality of life that Cary citizens have come to expect. And, sometimes, just like in our own lives, we need additional capital to enhance our community. Whether it’s maintenance or new coat of paint on the house, updating a room, or improving our backyard, these projects cost money. The same thing is true in our town.
In order to pay for these initiatives, we need to come to you, Cary Citizens, to ask you for your approval. There are 3 ballot questions put before you – totally $80 million. If all 3 are approved, our tax rate will increase from the lowest in Wake County (at $0.33) to $.0.37 (with 2 cents in 2013 and 2 cents in 2015.)
If approved, Cary would still have the lowest property tax rate of any municipality in Wake County.
As part of the initiative to educate our citizens about the Bond, the Town of Cary has created several tools to provide you the information you need to make a decision.
A Cary Bonds Website: with the list and details about the projects included in the Bond referendum, the financial impact, and information on what is on your ballot.
A Video: An overview of the bonds with with information about the bond and the Town’s current status. (Click HERE to see the video.)
FAQs: Frequently Asked Questions – found on the Cary Bonds Website, with more financial information for your use.
That’s really the question we all want to know. If I vote for it, how much is it gonna cost me?
If all 3 bonds are approved, the property tax rate will increase 2 cents in 2013, and 2 cents again, in 2015.
That means that if you have a home that is worth $250,000, your property tax bill will increase $50/year for the increase in July 2013, and $50/year for the increase in 2015.
Just so you know, Cary has not raised property tax rates since 1989.
The Town does not currently have the funds for these proposed projects. So, if you decide to vote against it, it is highly unlikely that any of these projects will move forward in the next 3 to 5 years.
This is a vote on whether the Town can use a general obligation bond for financing these projects, it’s not a vote on the property tax rate, although it impacts that rate.
I’ve received a number of emails and FaceBook posts regarding this issue, so I wanted to address some of the comments publicly. Please feel free to contact me with any comments, questions or concerns. This is YOUR decision. Be informed and tell us what you want. You choose.
Featured photo from CaryBond.org website