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Tryon Road included in Bond Referendum
Tryon Road widening & realignment has been included in the City of Raleigh’s proposed Transportation Bond that will be on the ballot this October. The bond would provide $1.8 million to complete the project and be in addition to dollars dedicated from the NC DOT to replace the bridge.
City Council Members are directing Raleigh voters toward an October ballot that would seek approval of $37 million in transportation general obligation bonds and $15 million in affordable housing general obligation bonds. The bonds would be voted on separately. Approval of the $52 million bond referendum would add 0.84 cents per $100 valuation to the City of Raleigh property tax rate. This increase would translate into an annual property tax increase of $15.80 on a residential property valued at $188,139, the median-priced assessment for Raleigh homes.
