City of Raleigh Housing Bonds ReferendumBorrow up to $101.5 million for housing for people with low or moderate incomes
What your vote means
The City of Raleigh may borrow up to $101.5 million for housing for people with low or moderate incomes, and may raise property taxes to pay it back with interest.
The City of Raleigh may not borrow this money with these bonds.
Our one-line summary of the official wording.
In plain words
Our summary of the official materials and local reporting.
- A bond is a loan. Voters are asked whether the City of Raleigh may borrow up to $101.5 million, plus interest, for housing for people with low or moderate incomes. source: ncsbe.gov (State Board of Elections)
- The official wording says property taxes in the City of Raleigh may go up to pay the loan back. source: ncsbe.gov (State Board of Elections)
- Planned uses: $57.6 million to build and preserve affordable housing; $21.5 million for redeveloping city-owned sites; $12 million for homelessness response; $10.4 million for homebuyer help and helping seniors stay in their homes. source: raleighnc.gov
- The city lists the direct tax impact as $0; it says a drop in property or sales tax revenue could reduce what the Steady State fund can borrow. source: raleighnc.gov
Cost: Up to $101.5 million borrowed, repaid with interest from property taxes in the City of Raleigh. Official estimate of the total cost with interest, using the highest interest rate of the last 20 years: $167,885,618. Official estimate of the property tax increase: $0 a year for each $100,000 of property value.
Why people want it, and why others object
Why this is on the ballot
- Raleigh City Council started the process in April 2026 and adopted the bond orders on May 19, 2026, putting two $101.5 million bonds (housing and transportation) on the Nov. 3 ballot. Each is a separate vote. source: raleighnc.gov
- City Chief Financial Officer Allison Bradsher: "The city has debt affordability totaling $203 million ... and it comes without a tax increase." The city says it will repay the bonds from its existing "Steady State" capital fund. source: raleighnc.gov
- The council approved the housing bond unanimously. Some activists had asked for $200 million. source: indyweek.com
Why supporters want it
- Housing and Community Development Director Emila Sutton, on the mixed-income loan fund the bond would create: "You're creating that forever fund." source: indyweek.com
- Council member Jonathan Lambert-Melton backed the homelessness program in the bond. He first wanted $200 million but changed his mind after talking with staff: "Giving them another $100 million dollars is not going to result in substantially more affordable housing". source: indyweek.com
Why opponents object
- Donald Bryson, president and CEO of the John Locke Foundation: "Our concern is more about making debt a routine way to finance government priorities." He said the Steady State fund does not remove the cost of borrowing. source: wunc.org
Who backs each side
No public record found of a campaign committee or campaign money for either side.
In each side's own words where we could find them, quoted or summarized with a link to the source. We don't endorse either side.
What you will see on your ballot
Official ballot wording, word for word (tap to open)
Word for word from the State Board of Elections' official list of local referendums for Nov 3, 2026: ncsbe.gov (State Board of Elections) .
Additional property taxes may be levied on property located in the City of Raleigh, North Carolina in an amount sufficient to pay the principal of and interest on bonds if approved by the following ballot question. Shall the order adopted on May 19, 2026, authorizing not exceeding $101,500,000 HOUSING BONDS of the City of Raleigh, North Carolina, plus interest, for the purpose of providing funds, together with any other available funds, for community development programs to provide and rehabilitate multifamily and single family housing inside the corporate limits of said City, principally for the benefit of persons of low and moderate income, including, without limitation, (a) the construction or rehabilitation of housing or neighborhood revitalization improvements, (b) programs to provide loans and other financial assistance to such persons and to public and private providers of housing and (c) the acquisition of any related land, rights of way and equipment, and providing that additional taxes may be levied in an amount sufficient to pay the principal of and interest on the bonds, be approved, in light of the following: (1) The estimated cumulative cost over the life of said bonds, using the highest interest rate charged for similar debt over the last 20 years, would be $167,885,618, consisting of the $101,500,000 principal amount of said bonds, plus $66,385,618 of estimated interest. (2) The estimated amount of property tax liability increase for each one hundred thousand dollars ($100,000) of property tax value to service the cumulative cost over the life of said bonds provided above would be $0 (zero dollars) per year.
- Yes
- No
Latest news
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