What does a YES vote on Wake County School Bonds Referendum mean?

Wake County could borrow $680,000,000 by issuing bonds for building, renovating, expanding, improving and equipping Wake County Public School System buildings and facilities, repaid with property taxes; the estimated total cost with interest is $1,043,387,458, and the estimated property tax increase is $4.10 a year per $100,000 of value.

What does a NO vote on Wake County School Bonds Referendum mean?

Wake County would not be authorized to issue these $680,000,000 in bonds or levy taxes to repay them.

Does this raise property taxes?

The ballot says additional property taxes may be levied to repay the bonds, and estimates the increase at $4.10 per year for each $100,000 of property value over the life of the bonds.

What is the total cost with interest?

The ballot estimates $1,043,387,458: $680,000,000 principal plus $363,387,458 estimated interest, using the highest interest rate for similar debt in the last 20 years.

Is there other money besides the bonds?

WCPSS says county commissioners have agreed to provide $152.3 million in pay-as-you-go cash in addition to the bonds.

Why does the county, not the school system, borrow?

WCPSS says North Carolina school districts cannot raise capital funds on their own, so counties fund school construction.

How many votes does Wake County School Bonds Referendum need to pass?

A simple majority: more than half of the YES and NO votes on this measure must be YES. Leaving it blank doesn't count either way.

Should I vote yes or no on Wake County School Bonds Referendum?

SpectrumVote doesn't endorse anyone or tell you how to vote. Read what a YES and a NO vote each do, and the official text, then decide based on what you want to happen.

The general election was Tuesday, November 3, 2026. Counts are unofficial until each state certifies its results over the following weeks; your state or county election office has the official results.

Wake County School Bonds Referendum

Last updated Sat, Nov 7, 2:38 PM ET

Ballot measure · November 3, 2026

What it does: Additional property taxes may be levied on property located in the County of Wake, North Carolina in an amount sufficient to pay the principal and interest on school bonds if approved by the following ballot question. Shall the order adopted on July 6, 2026, authorizing $680,000,000 SCHOOL BONDS of the County of Wake, North Carolina, plus interest, for the purpose of providing funds to construct, renovate, expand, improve and equip school buildings and other school facilities for the Wake County Public School System, and providing that additional taxes may be levied in an amount sufficient to pay the principal of and interest on said bonds be approved, in light of the following: (1) The estimated cumulative cost over the life of said bonds, using the highest interest rate charged for similar debt over the last 20 years, would be $1,043,387,458, consisting of the $680,000,000 principal amount of said bonds plus $363,387,458 of estimated interest. (2) The estimated amount of property tax liability increase for each one hundred thousand dollars ($100,000) of property tax value to service the cumulative cost over the life of said bonds would be $4.10 per year.
A YES vote means: Wake County could borrow $680,000,000 by issuing bonds for building, renovating, expanding, improving and equipping Wake County Public School System buildings and facilities, repaid with property taxes; the estimated total cost with interest is $1,043,387,458, and the estimated property tax increase is $4.10 a year per $100,000 of value.
A NO vote means: Wake County would not be authorized to issue these $680,000,000 in bonds or levy taxes to repay them.
Needed to pass: A simple majority: more than half of the YES and NO votes on this measure must be YES. Leaving it blank doesn't count either way.
Left–right lean: Unclear: our AI read of the official summary isn't confident enough (we require 70%) to place this on the left–right spectrum, so we don't. Read the summary and decide for yourself.

The YES and NO lines are SpectrumVote's plain-language reading of the official text above; the official text is what you vote on.

Official text: source

Explained

Today

Wake County pays for Wake County Public School System (WCPSS) buildings, using general obligation bonds and cash.
WCPSS's seven-year Capital Improvement Program (CIP 2027) includes renovating or replacing 17 existing school facilities and building 8 new schools; WCPSS says bond sales would fund most of its next two years.

If it passes

YES would approve the county's July 6, 2026 order authorizing $680,000,000 in school bonds, plus interest, to build, renovate, expand, improve and equip WCPSS school buildings and facilities.
The county could levy additional property taxes sufficient to repay the bonds.
NO would not authorize these bonds. WCPSS says the Board of Commissioners would still have to decide how to pay for the facility needs.

Example

The ballot estimates the property tax increase needed to repay the bonds at $4.10 per year for each $100,000 of property value, and the total cost at $1,043,387,458 including $363,387,458 of estimated interest. These are estimates printed on the ballot. (source)

Who would notice

Wake County property owners, who would repay the bonds through property taxes, and WCPSS students and staff.

How it got here

The bond order was adopted July 6, 2026, according to the ballot question, and WCPSS says the Wake County Board of Commissioners approved placing the referendum on the November ballot.

It is on the November 3, 2026 ballot countywide and needs a majority of voters.

Written by SpectrumVote from 3 linked sources (1, 2, 3). Arguments are each side's own, not ours; the official text is what you vote on.

Background

On July 6, 2026, after public hearings, the Wake County Board of Commissioners voted 7-0 to adopt the school and Wake Tech bond orders on second reading and call the November 3 referendum, according to the county's legislative record; the Wake County Board of Education had requested the $680 million school bond by resolution on April 7, 2026.

County staff said the $680 million would be combined with about $152.3 million in county cash to fund $832.3 million in school capital needs for FY2028 and FY2029, including two new elementary schools and renovations at three high schools, two middle schools and three elementary schools.

The county's chief financial officer estimated total interest on the school bonds at $363,387,458, using a 5.344% rate set by the Local Government Commission as the highest for similar debt over the past 20 years.

Staff estimated a 0.5-cent capital tax increase in FY2028 to support both the school and Wake Tech bonds, 0.41 cent of it for the school bonds, and noted voters approved the last school bond, $530.7 million in 2022, with 71% of the vote.

Put on the ballot by Wake County Board of Commissioners, 7-0, July 6, 2026.

From official source 1, official source 2, official source 3, official source 4.

See your members of Congress and every race and measure on your ballot in Wake County, from your address. Your address stays in your browser.Look up my races

Next elections here

2028 presidential election · Who has filed so far, from FEC filings

Also on Wake County ballots

Wake County Community College Bonds Referendum

All Wake County races and measures →

Quick answers

What does a YES vote on Wake County School Bonds Referendum mean?: Wake County could borrow $680,000,000 by issuing bonds for building, renovating, expanding, improving and equipping Wake County Public School System buildings and facilities, repaid with property taxes; the estimated total cost with interest is $1,043,387,458, and the estimated property tax increase is $4.10 a year per $100,000 of value.
What does a NO vote on Wake County School Bonds Referendum mean?: Wake County would not be authorized to issue these $680,000,000 in bonds or levy taxes to repay them.
Does this raise property taxes?: The ballot says additional property taxes may be levied to repay the bonds, and estimates the increase at $4.10 per year for each $100,000 of property value over the life of the bonds.
What is the total cost with interest?: The ballot estimates $1,043,387,458: $680,000,000 principal plus $363,387,458 estimated interest, using the highest interest rate for similar debt in the last 20 years.
Is there other money besides the bonds?: WCPSS says county commissioners have agreed to provide $152.3 million in pay-as-you-go cash in addition to the bonds.
Why does the county, not the school system, borrow?: WCPSS says North Carolina school districts cannot raise capital funds on their own, so counties fund school construction.
How many votes does Wake County School Bonds Referendum need to pass?: A simple majority: more than half of the YES and NO votes on this measure must be YES. Leaving it blank doesn't count either way.
Should I vote yes or no on Wake County School Bonds Referendum?: SpectrumVote doesn't endorse anyone or tell you how to vote. Read what a YES and a NO vote each do, and the official text, then decide based on what you want to happen.
When is the vote?: The general election was Tuesday, November 3, 2026. Counts are unofficial until each state certifies its results over the following weeks; your state or county election office has the official results.

Not sure how to decide? Read our nonpartisan guide to the Wake County ballot.

See something wrong on this page? Report a problem · Corrections