2026 General Obligation (GO) Bond Frequently Asked Questions

State law governs how Cabarrus County communicates about bond referendums. The County may provide factual, educational information about the bond but may not use public funds to advocate for or against its passage. County employees are also subject to state guidelines governing political activity while on duty. For more information, see:

N.C.G.S. § 153A-456 – Limitation on the use of public funds
N.C.G.S. § 153A-99 – County employee political activity

What is a GO Bond?

A General Obligation (GO) Bond is a way for the County to borrow money to pay for major capital projects. If approved by Cabarrus County voters on the November 2026 General Election ballot, the funding would be used for long-term public school needs.

What is a bond cycle?

A bond cycle establishes a schedule of financing over a determined period of time. Bond cycles support long-term planning and help manage debt, which allows Cabarrus County to maintain its AAA credit (the highest possible rating).

Why is the County considering a GO Bond Referendum?

Over the next decade, capital needs for local school systems are estimated to exceed $1 billion. GO bonds place the decision to issue bonds directly in the hands of voters. In North Carolina, county governments are required by law to build and maintain public school facilities: N.C.G.S. 115C-521 and N.C.G.S. 115C-408(b)

Why does the County need to use bonds to pay for schools?

The current estimated cost of a new high school is around $135 million, while a new elementary school can cost $60-65 million. Public school needs in Cabarrus County exceed $1 billion over the next decade. Bonds allow the County to spread these costs over time.

What will the GO Bond be used for?

Projects include new school construction and large-scale maintenance projects like roof and HVAC repair/replacement, plumbing upgrades, security enhancements and more. Our educational partners are Cabarrus County Schools, Kannapolis City Schools and Rowan-Cabarrus Community College.

Here's a rundown of long-term capital needs identified during the FY27 budget planning process. NOTE: these are 5- and 10-year projects. The current bond funding would be used for up to $400 million ($340 million for CCS and KCS and $60 million for Rowan-Cabarrus) in new construction, renovation and repair.

Cabarrus County Schools(PDF, 372KB)

Kannapolis City Schools(PDF, 792KB)

Rowan-Cabarrus Community College(PDF, 74KB)

How will approval of the GO Bond impact my tax bill?

Use this tool to determine your assessed home value and the tax impact based on the bond amount.

If the bonds are approved, when would I see additional taxes on my bill?

The preliminary figures included in the survey are the total possible tax impact, based on the bond amount. The earliest the rate would take effect in the budget year following bond issuance. That means the earliest possible increase would be reflected as part of the FY 2027-28 budget year, which begins July 1, 2027. Due to construction timelines, the total increase would appear as projects begin and bond debt is issued. The total tax impact would be phased in over time rather than appearing all at once.

If the bonds are approved, will I see the tax increase all at once?

No. General Obligation (GO) bond projects are completed over several years, not all at once. The County only borrows money as projects move forward, so any tax increase would generally be phased in over time rather than appearing all at once.

For example, if your home is valued at $300,000, the estimated annual tax impact of approving both proposed bonds (totaling $400 million) would be up to $150 per year once all the funds have been borrowed.

The first opportunity for any tax increase would be in FY 2028, which begins July 1, 2027. Homeowners would not see the full estimated $150 increase that first year. Instead, the tax impact would appear as projects begin and the bond debt is issued.

If the projects are completed over a four-year timeline, the tax impact would be phased in over those four years. Once the full amount has been borrowed, the tax impact would remain part of the rate until the bond debt is repaid.

The NC Local Government Commission’s approval allows for a total of seven years to complete projects funded through a GO Bond, which provides flexibility for project scheduling and construction.

It’s also important to understand the example that appears on the ballot. North Carolina law requires that the ballot show “the highest rate charged for similar debt over the maximum bond issuance term.” In this case, that means the highest interest rate over the past 20 years, since the County is anticipating a 20-year bond. The requirement aims to show a conservative, worst-case scenario rather than what taxpayers would actually pay.

Cabarrus County has AAA bond ratings with all three major rating services. Unless special circumstances arise, those ratings mean the County would get more favorable interest rates.

What questions will be on my ballot?

Here is the language that will appear on Cabarrus County ballots in the November General Election:

Ballot questions for 2026 school bonds(PDF, 59KB)

What happens if the bonds are not approved?

If a majority of voters don't approve the bonds in November, the identified needs would remain. Officials would then have to reassess the projects and funding options and determine the best path forward.

How does the County maintain its AAA bond ratings?

Cabarrus County has AAA bond ratings from all three major rating agencies: Moody's, Fitch and S&P. AAA is the best possible rating and comes from the County's focus on strong financial management, stable reserves and careful long-term planning. That rating means the County is able to get the best possible interest rates.