School Construction Funding

Elevation of proposed new elementary school

Wake Education Partnership supports the 2006 Wake County School Bond Referendum. We believe that bonds are the best way to pay for new schools and renovations for existing schools in order to meet the demands of our rapidly growing student population. The $970 million bond will build 17 new schools, renovate 13 exisitng schools, provide technology replacements and upgrades, and fund land and start-up design for 13 additional schools. With more than 7,000 new students joining our schools each year, the need to build schools and maintain our existing facilities is clear.

5 Things You Need to Know About the Bond

  1. Bonds are the cheapest way to pay for school construction, saving more than $50 million over other options.
  2. The Education Lottery only gives $9 million to Wake County for building schools – less than the cost of one elementary school.
  3. Money from the bond is kept in a restricted account and cannot be spent on anything else.
  4. Wake County has set up a Citizens Advisory Committee to oversee the construction of schools.
  5. With this bond, property taxes will go up 4.7 cents per $100 of valuation, which equals $70.50 per year on a $150,000 house. When the 1999 bond failed, property taxes increased by 10 cents.

5 Things You Can Do to Support the Bond Campaign

  1. Sign up to receive the Friends of Wake newsletter.
  2. Request a yard sign, bumper sticker or brochures to share with your neighbors and co-workers.
  3. Read the facts about how the bond money will be used.
  4. Attend the Wake Regional Education Roundtable on Oct. 3 to learn more about the bond.
  5. Remember to vote on Nov. 7.

The ongoing construction of new schools and the renovation and updating of existing facilities are essential to providing safe and adequate learning environments for all children and to attracting and retaining excellent teachers. The continued excellence of Wake County's public schools is essential to Wake County's economic well being, and we wish to maintain this county’s reputation as one of the best places to live in the country.

In addition to partnering with the Friends of Wake County to advocate for the 2006 school construction bond, the Partnership continues to track and research issues related to school funding, including operations budgets and capital spending. Our annual Quality Matters reports provide important data and information in this area.