Wake Forest voters approve four bond questions

Wednesday, November 9, 2022 - 11:13am

On Tuesday, Wake Forest voters approved all four questions on the referendum ballot for the Town of Wake Forest:

  • Question #1 concerning roadway and transportation improvements ($23.7 million) passed 14,940 to 4,617 (76% to 24%).

  • Question #2 regarding parks and recreation ($24.4 million) passed 13,783 to 5,808 (70% to 30%).

  • Question #3 concerning greenway improvements ($14.35 million) passed 13,226 to 6,327 (68% to 32%).

  • Question #4 regarding the downtown parking facility ($12.5 million) passed 10,873 to 8,586 (56% to 44%).

Scheduled projects include a multipurpose outdoor sports complex (to include Pickleball courts), restroom installations at local parks, road connections and street resurfacing, bus shelter installations, Smith Creek Greenway phases 2 and 3, Dunn Creek Greenway phases 3 and 4, and the downtown parking facility.

A property tax increase of one to three cents (up from the current rate of $0.495 for every $100 of assessed value) may be needed. Ultimately, the Board of Commissioners (BOC) will determine whether an increase is warranted and, if so, how much. At the maximum rate, a person with a taxable property value of $320,000 would pay $96 a year.

Historically, the BOC has tried to minimize the tax impact by utilizing growth in revenues and staggering projects in phases. Since there are several projects included in each bond order, the timing of the projects and the respective debt issuance will be spread out over seven years. To learn more, visit www.wakeforestnc.gov/2022-bond-referendum.