Understanding the school bond referendum and what your vote means
Published on August 03, 2026
A message from Cabarrus County Manager John Eller
Every community eventually faces decisions about replacing aging schools, accommodating school growth patterns and investing in facilities that will serve students for decades. This November, Cabarrus County voters will make one of those decisions when they consider a referendum on a General Obligation (GO) Bond for Cabarrus County Schools, Kannapolis City Schools and Rowan-Cabarrus Community College.
It is my honor and privilege to serve as the new Cabarrus County Manager. In that position, my role is not to advocate for or against the decision (at the end of this letter, you can review the General Statutes that define a County’s involvement in GO Bond referendums). Instead, my role is to make sure voters understand what is being proposed, what it would fund, what it would cost and how it could affect our community if approved. Just as importantly, it helps to understand how these decisions are made.
Under North Carolina law, the Board of Education identifies the school system's capital needs, while the Board of Commissioners is responsible for determining how those projects are financed. When a General Obligation Bond is proposed, the final decision rests with the voters.
School buildings are long-term community assets that are typically financed over many years because they will serve residents for decades. A GO bond is simply the financing tool that allows a community to make that investment over time rather than paying the entire cost at once. 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).
I'm sure some may ask how much it costs and what projects it would be used for? The total cost is $400 million, and the projects included in the referendum are posted on our website based on the needs that Cabarrus County Schools, Kannapolis City Schools and Rowan-Cabarrus Community College identified to address enrollment shifts, aging facilities, school safety and classroom capacity. The current estimated cost of a new high school is around $135 million, while a new elementary school can cost around $65 million.
Another question is how this will impact taxes and whether an increase would happen all at once. 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. The earliest the rate would take effect is the budget year following GO bond issuance. That means the earliest possible increase would be reflected in the FY 2027-28 budget year, which begins July 1, 2027. Due to construction timelines, the total increase would appear as projects begin and GO bond debt is issued. The total tax impact would be phased in over time rather than appearing all at once.
If the projects are completed over four years, the tax impact would be phased in over that period. Once the full amount has been borrowed, the tax impact would remain part of the rate until the GO bond debt is repaid. The NC Local Government Commission approval allows for seven years to complete projects funded through a GO Bond. This provides flexibility in project scheduling and construction. 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.
It’s also important to understand the example that you'll see on the ballot.(PDF, 59KB) 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.
Another question is how will the approval of the GO Bond impact my tax bill? Our team has created this tool to determine your assessed home value and the tax impact based on the bond amount.
This is an important decision, and it deserves thoughtful consideration. Our responsibility as a County is to ensure voters have access to accurate, complete information – not to persuade them how to vote.
To support that effort, the County created an informational website that explains the proposed projects, the financing plan and the disclosures required under North Carolina law. I encourage every voter to review that information before casting a ballot.
Good public decisions depend on informed voters. Regardless of your vote, I encourage you to understand what is being proposed, consider how it aligns with your priorities and participate in the election. Our responsibility is to provide the facts. The decision belongs to well-informed voters like you.
John Eller, Cabarrus County Manager
* 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: