Raleigh bond proposals will go on October ballot
Posted August 3, 2011 3:00 p.m. EDT
Updated August 3, 2011 5:09 p.m. EDT
Raleigh, N.C. — Raleigh's city council on Tuesday unanimously approved $56 million in bonds proposals for the Oct. 11 municipal election.
The city is asking Raleigh voters to approve $40 million in transportation bonds and $16 million in housing bonds that would add .91 cents per $100 valuation to the city’s property tax rate.
The increase would translate into an annual property tax increase of $17.11 on a home valued at $188,139, the median-priced assessment for Raleigh homes.
The transportation bond would include funding for bicycle lanes, greenways, new sidewalks, and street resurfacing projects while the housing bond would allow funding for affordable housing programs.