What could happen if Wake voters reject the $680 million school bond issue?

There would be major implications if Wake County voters reject the $680 million school construction bond referendum on Election Day.

The school bon d would provide much of the funding for a $832 million building program that includes three new schools, major renovations at nine schools and a variety of other projects, including HVAC and security upgrades.

North Carolina counties are responsible for providing the money to build and maintain schools, so if voters reject the bond, it would lead to hard decisions about what to still fund and what to delay.

Wake County voters haven't rejected a school bond issue since 1999 — approving more than $3.7 billion in borrowing since then. But rising property tax bills could lead to pushback. Approving the bonds would cost the average homeowner about $21 more per year in property taxes.

"We are grateful that Wake County voters have consistently recognized the importance of making responsible, long-term investments in our schools," the Friends of Wake County, the group formed by the business community to promote the school bond, said in a statement Monday. "We are confident that commitment will continue in 2026, ensuring our students and educators have the safe, comfortable and modern learning environments they deserve."

Here's a look at what could happen if Wake voters say no.

What happened last time a school bond was defeated?

The aftermath of the failed 1999 school bond referendum could offer clues as to what would happen if bond opponents are successful next week.

In 1999, a $650 million school bond referendum was rejected by 65% of the voters.. It was part of a $938 million school construction program that would raise property taxes by 16%.

Despite the voters turning the referendum down, the Wake County Board of Commissioners approved raising the tax rate to help fund school construction projects.

That tax increase helped fund a $500 million school construction bond referendum in 2000 and a $450 million school bond in 2003 without any additional property tax hikes. This was accomplished by limiting the number of projects that would be funded by both ballot measures.

With less overall funding available, some renovation projects were reduced in scope and/or pushed to future building programs. School leaders focused on building new schools to keep with record growth occurring in the 2000s.

Bond supporters say needs won't disappear with a no vote

Unlike 1999, the school system is no longer in an era of rapid student enrollment growth. Only 17% of the school construction program funding in the next two fiscal years is for new schools. The rest is for existing schools.

But Friends of Wake County and the school district say the needs won't go away if the referendum is defeated.

"Aging HVAC systems will still need to be replaced, outdated facilities will still require renovations, and growing communities will still need additional classroom space," said the Friends of Wake. "The county will have to find alternative ways to fund these critical improvements, potentially at a higher cost to taxpayers.

"Delaying these projects could also make them more expensive down the road. The bond initiative is the most fiscally responsible way to meet the existing needs of our schools."

Voter approval would allow Wake County to issue general obligation bonds that come with a lower interest rate to repay them than limited obligation bonds that don't require a referendum.

"GO (General Obligation) Bonds are the least expensive option to replace inefficient school equipment at the end of its life expectancy and accommodate our growing population," the school district says on its school bonds pag e.

Any efforts to raise property taxes to pay for school projects to offset a rejected bond referendum could be limited by a state constitutional amendment that's also on the Nov. 3 ballot. Multiple polls show a majority of North Carolinians support passing an amendment that would require state lawmakers to set limits on local property tax increases.

Major political parties split on school bond

The Wake County Democratic Party is supporting the school bond. But the Wake County Republican Party is urging people to reject the bond referendum.

The Wake GOP faulted the school system for only spending $98.7 million in the next building program on lifecycle building improvements. Of that $98.7 million, Wake says about half is specifically going to HVAC work.

The Wake GOP says the district's building program is leaving behind many schools — such as the 100-year-old Wake Forest Elementary — that need updating.

"Once again, WCPSS asks for funding and puts classroom maintenance as a low priority," said Laura Macklem, the Wake County Republican Party's PR chair. "If approved, this bond will still leave schools behind, so the question is for WCPSS — what happens to those other schools?"

But the district says all schools will be affected by the plan, even if they aren't listed.

"New schools and renovations will reduce crowding in other existing schools," the district says on its bond page. "Many schools will receive technology, furniture and equipment replacement and upgrades.

Macklem said it's not the job of bond opponents to say where the money would come from to meet needs such as HVAC repairs if the referendum is defeated.

"Only WCPSS can look at their current budget and bond initiatives and finally prioritize HVAC," Macklem said. "We can't do it for them. I think the question should be asked to WCPSS on why this bond does not prioritize classroom maintenance."