An increase in the annual property tax rate of 5 cents will be necessary to repay this bond debt over the next 20 years, beginning with tax bills due in September 2019. The town tax rate will increase from 43.25 cents to 48.25 cents per $100 value.
As future residents move into this area they will share in the cost of road improvements that will be needed as this area continues to thrive and grow.
This chart illustrates the annual cost to homeowners in Holly Springs if the bond referendum passes.
Impact on Property Tax Bills
Not all impacts to taxpayers are cost
In return for favorable passage of the bond question, the Town commits to several critical projects to provide a safer, better connected community where traffic congestion is eased and our town's economy will be boosted.
Traffic congestion, especially in known trouble spots, will be relieved
Motorists will be able to get into and out of neighborhoods more safely
Driver frustration levels will decrease
There will be more efficient traffic flow throughout town
Bike lanes, crosswalks and sidewalks will make it safer for bicyclists and pedestrians
Commute time will be lessened, giving drivers more quality time in their lives every day
New road connections will give residents better cross-town routes and links to amenities.
How Does Holly Springs Rank in Tax Rate for This Area?
Holly Springs does not have the highest tax rate in Wake County. Holly Springs is tied with Fuquay-Varina in sixth place among the 12 municipalities in Wake County. With a 5-cent tax rate increase, Holly Springs sit alone in sixth place. Click here for a comparison of municipal tax rates.