Wake County voters will likely be asked to approve a nearly $1 billion bond referendum for school construction in 2018.
Twenty-seven new schools are on the Wake County Public School System’s project list, while dozens of other schools will undergo some type of renovation in the next seven years.
The Wake County Board of Commissioners has already agreed to fund the $2.2 billion construction plan, but commissioners say taxpayers will need to pitch in to complete the construction plan.
The $1 billion bond, which would be the largest yet for the school district, would entail a 3.25-cent increase to the county’s property tax rate, which would add about $81 to the annual tax bill for the owner of a $250,000 house.
Board of Commissioners Chairman Sig Hutchinson called the billion-dollar mark “the magic number,” saying commissioners would try to stay below that figure.
“Our voters in the past have supported these bonds. They understand the importance of these bonds,” Hutchinson said.