PO BOX 3729
225 E Weatherspoon St
Sanford, NC 27331

 
 
 

 

POTENTIAL TAX IMPACT

The tax implication per $100 of assessed value of both real and personal property is:

  • Streetscape and Pedestrian Improvement Bonds = $6.5 million = 2.33 cents
  • Parks and Recreational Bonds = $2 million = 0.72 cents
  • Greenways and Trails Bonds = $4 million = 1.43 cents
  • Sidewalk Improvement Bonds = $2 million = 0.72 cents

Assuming that voters choose to invest in all four projects, which total $14.5 million – and that the City embarked on all four investments at once – the property tax impact could be up to 5.2 cents, or $52 per $100,000 of home value, each year.

However, Council’s intention is to minimize the tax impact on residents. The bond referendum gives the City seven years to issue bonds for these investments, with the possibility of a three-year extension.

That means Council has the time and flexibility to carefully plan and implement its long-term vision for Sanford.


Want a City official or Council member to discuss the 2013 Bond Referendum at your next meeting or event? Call Kelly Quinones Miller at 919-777-1133 or email bonds@sanfordnc.net.

 

 

 


 
 

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