We did it, Charlotte. We made it through Election Day 2024. Now that we can catch our breath — and enjoy a break from campaign commercials — big decisions have been made that will shape the future of the Queen City.
Three significant bond referendums were on the table this election cycle, including:
- $238 million transportation bond
- Increase in overall city mobility by providing more transportation choices with improved access to major routes + road resurfacing, intersections, and parking lots.
- Decision: passed
- $100 million housing bond
- Provides funding to pay for capital costs of housing projects benefiting Charlotteans earning low to moderate incomes.
- Decision: passed
- $61.7 million neighborhood improvement bond
- Fund infrastructure needs across the city’s neighborhoods, including building sidewalks and bikepaths, landscaping greenways, and maintaining storm drains.
- Decision: passed
What’s a bond?
Bonds generate money from taxpayers to finance major projects. In other words, taxpayers will pay higher taxes in exchange for community-wide benefits, like those that come from building and improving parks.
Where will the money come from?
Taxpayers. The transportation bond funds will be raised through an increase in property tax. Since it’s been approved, the bond will increase residents’ taxes by $1 per year for every $100,000 in property value.
Housing bonds will cost Charlotteans an extra $1.30 per year.
Neighborhood improvement bonds will cost Charlotteans an extra $0.20 per year.
