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.
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).
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)
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.
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:
Cabarrus County Schools(PDF, 372KB)
Kannapolis City Schools(PDF, 792KB)
Rowan Cabarrus Community College(PDF, 74KB)
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.
Use this tool to determine your assessed home value and the tax impact based on the bond amount.