N.C. — The Wake County Board of Commissioners decided Monday to put an $810 million bond to a public vote this fall.
The county and school board plan to ask voters to approve borrowing to build 16 new schools, fund several major renovations and upgrade technology and security. The bond issue would be on the Oct. 8 ballot.
The Wake County Public School System, the largest in the state, is expected to add almost 20,000 students in the next five years, and the bond would fund necessary expansion to accommodate them.
The county plans to build 11 elementary schools, three middle schools and two high schools – at a cost of more than half a billion dollars – and to renovate five elementary schools and Garner High School.
The bond would be paid for by a property tax increase. The average Wake County homeowner, with an assessed home value of $263,500, would pay an additional $145 in taxes.