Raleigh Residents To Vote On Transportation, Housing Bonds
Posted October 6, 2005
RALEIGH, N.C. — Raleigh voters will have a chance to weigh in with their opinions at the polls Oct. 11 on two city bonds up for consideration:
transportation improvements and affordable housing
First on the ballot: a $60 million transportation bond that city leaders say should help ease popular congested roadways.
The bond would supporting 12 road projects that include proposals to synchronize traffic lights and reduce speeds in neighborhoods.
Many ideas deal with traffic, such as widening Tryon and Rock Quarry roads. The bond would also pay for a new bridge on Falls of Neuse Road and make Hillsborough Street more pedestrian-friendly.
Raleigh residents will also vote Tuesday on a $20 million affordable housing bond that would help people with low and moderate incomes purchases houses.
If both bonds pass, the city would finance them through a 2-cent increase in Raleigh's property tax rate, which would increase to 41.50 cents per $100 of property value. For example, someone who owns a $200,000 home would pay about $40 more in property taxes.
Some say, however, that instead of raising taxes, the money for these two programs need to come from somewhere else within the city's budget.