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Q. Why do we need bonds to renovate schools?
A. School renovation and construction projects are very expensive to fund at one time. Bonds spread the cost of major capital improvements over a number of years. This is similar to securing a mortgage on a home and spreading the cost of home buying over a period of years.
Q. How were the projects selected for the 2024 school bond?
A. The Board of Education recommended several projects from the long-range capital planning list to the Union County Board of Commissioners (BOCC) to be considered for the 2024 bond referendum. These two projects were approved for this bond by the BOCC.
Q. My child's school is not on this bond, why should I be concerned about these projects?
A. Union County Public Schools is committed to ensuring that all students receive a quality education in safe and efficient learning environments. All schools benefit when we value public schools. District improvements increase safety, support evolving educational practices, modernize aging facilities and directly improve the quality of life in Union County. With a successful bond, more projects will move up on the priority list for capital needs and future bonds.
Q. What is the estimated tax increase?
A. According to the Union County Board of Commissioners, the estimated maximum annual debt service impact is $4,077,755 beginning in FY 2026. The annual estimated amount of property tax liability increases for each S 100,000 of property tax value to service the cumulative cost over the life of the bond is estimated at $8.00 (based on 0.80 cents increase in the ad valorem property tax rate). This estimate is based on the legislative requirements of NC Session Law 2022-53 for bond referendums. Example: For each $100,000 in value, there would be an impact of approximately $8.00.
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