2026 General Obligation (GO) Bond Frequently Asked Questions

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.  

Identified projects(PDF, 3MB) 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. 

Below is 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)

North Carolina state law requires counties to provide funding for public school capital projects. The law does NOT specifically grant those counties the authority to force developers to help pay for school construction and maintenance. That source of funding, called "impact fees," has been ruled illegal by the North Carolina Court of Appeals and the State Supreme Court.

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

The earliest rate increase 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 the budget process and construction timelines, it would more likely be part of the FY 2028-29 budget, which begins July 1, 2028. Rather than appearing all at once, the total tax impact would be phased in over time as projects begin and debt is issued. It would not appear 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 tax impact would appear as projects begin and bond debt is issued. Once the full amount has been borrowed, the tax 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.

While projects differ, most construction loans are on a 20-year repayment plan.

If a majority of voters don't approve the bonds in November, the identified needs would remain. Without GO bond financing, the County could not address those needs in the current budget. Ultimately, that extends the timeline for start and completion of the identified project list(PDF, 3MB) and the longer term needs for CCS(PDF, 198KB), KCS(PDF, 792KB) and RCCC(PDF, 74KB). 

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

Full sample ballot language(PDF, 47KB)

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.  

In addition to the resources on this page, Cabarrus County is hosting four community forums throughout the county:

SEPTEMBER 16 at the Mt. Pleasant Library and Active Living Center, 1111 N. Washington St. 

SEPTEMBER 29 at the Library and Active Living Center at Afton Ridge, 6095 Glen Afton Blvd. 

OCTOBER 13 at the Swanee Theatre, 200 West Ave., Kannapolis

OCTOBER 26 at the Harrisburg Library Branch, 201 Sims Pkwy. 

All forums are scheduled for 6 to 7 p.m. 

If you have specific questions, you can always send them to getinfo@cabarruscounty.us. 

All 

The statewide general election is Tuesday, Nov. 3, 2026. This election is also known as the “midterm,” as it is held two years (midway) into the four-year U.S. presidential term.

NOTE: Early voting in Cabarrus County begins on Thursday, October 15. This year there are four early voting spots (including NEW locations). Those are: 

• Cabarrus EMS HQ Station 9, 793 Cabarrus Ave. W., Concord
• Cabarrus Afton Ridge Library and Active Living Center, 6095 Glen Afton Blvd., Kannapolis
• Cabarrus Arena & Event Center, 4751 NC Highway 49, Concord
• Rowan-Cabarrus Community College at NCRC, 399 Biotechnology Lane, Kannapolis

Here are more important dates to know

• Sept. 4: Absentee ballots must be available. For more, see Vote by Mail.
• Oct. 9: Voter registration deadline (5 p.m.). For more, see How to Register.
• Oct. 15: In-person early voting begins; same-day registration available. For more, see Vote Early in Person.
• Oct. 20: Absentee ballot request deadline (5 p.m.)
• Oct. 31: In-person early voting ends (3 p.m.)
• Nov. 3: Election Day. For more, see Vote in Person on Election Day.
• Nov. 3: Absentee ballot return deadline (7:30 p.m.)

Important Tips for Voters

• Need to register or update your registration? See How to Register or Updating Registration.
• Check your registration: Voters can check to make sure their registration information is accurate and up to date using the Voter Search tool. There, you can also find your polling place, party affiliation, absentee ballot information, and more.
• Find your sample ballot: All eligible, registered voters will find their sample ballot(s) in the “Your Sample Ballot” section of their Voter Search profile when sample ballots become available. 
• Don’t forget your photo ID: North Carolina voters will be asked to show photo ID when they check in to vote. Learn more: Voter ID.
• Three ways to vote: Follow the links below to learn about the voting methods available to all NC voters.

1. Vote Early in Person. For in-person early voting locations and schedules in Cabarrus, click here.
2. Vote in Person on Election Day (Nov. 3). Polls are open from 6:30 a.m. to 7:30 p.m. Voters who vote on Election Day must go to their assigned polling place. Find your polling place in the Voter Search tool and navigate to "Your Voting Locations."
3. Vote By Mail. Any North Carolina registered voter may request, receive, and vote a mail-in absentee ballot for the 2026 elections. No excuse is needed.