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REALTORS® for Guilford County Schools


2020 REALTORS® Support the Guilford County Quarter Cent Sales Tax

The North Carolina Association of REALTORS® is partnering with the Greensboro Regional REALTORS® Association and the High Point Regional Association of REALTORS® to support the Quarter Cent Sales Tax on the ballot this fall. In conjunction with the school bond, the sales tax will go a long way toward rebuilding Guilford County Schools. NC REALTORS® will be spending $50,000 on a campaign to educate voters about the Quarter Cent Sales Tax.

The members of the North Carolina Association of REALTORS® support the Quarter Cent Sales Tax on the November ballot in Guilford County. The sales tax will raise over $19 million in annual revenue to help pay for the $300 million school bond. NC REALTORS® believes both the bond and the sales tax must pass to start improving Guilford County Schools to meet the needs highlighted in the Facilities Master Plan.

Guilford County Schools need major updates. The Guilford County Schools Facilities Master Plan projects over $1.6 billion to make our schools safe, modern, and with adequate technology. REALTORS® understand the importance of good schools for a thriving community and will advocate for policy measures that seek to improve them.

The tax is an increase of a quarter of one cent, a minimal cost for necessary improvements. Without the sales tax, Guilford County will be forced to find another revenue source, which could include raising property taxes or other counties fees.

NC REALTORS® asks that you vote for both the Quarter Cent Sales Tax and the School Bond to start modernizing Guilford County Schools for the betterment of our children and the future of our county.

The press can learn more about the sales tax and the REALTORS’® support here or by contacting the NC REALTORS®.

What is the school bond?

Guilford County has placed a $300 Million bond on the ballot for voter approval to provide long-term funding to support Guilford County Schools. If approved, the bond would go toward meeting the needs in the Guilford County Schools Facilities Master Plan. To learn more about the plan read here.

What is the quarter cent sales tax?

The ¼ cent sales tax increase is a sales and use tax increase of a quarter of ONE cent. If passed, this tax would generate roughly $19 million a year in revenue for the county. The Guilford County Commissioners and Guilford County Board of Education have agreed that the revenue from the quarter cent sales tax would go toward paying off the debt service on the school bond.

The sales tax would increase the rate from 6.75% to 7%. This means that for every $4.00 purchase Guilford County residents are only paying 1 ¢ more.

Why vote for both measures?

Both the school bond and the quarter cent sales tax will directly go toward updating and improving Guilford County Schools’ facilities. These will provide a direct benefit to children in Guilford County. Without the sales tax, the bond needed to provide these facilities upgrades will need financing by some additional form of revenue. Guilford County’s website on the bond and sales tax states that “If the $300 million school bond is approved but the one-quarter cent (¼¢) sales tax option does not pass, property taxes must be increased to cover the issuance of these bonds.” Vote for both the ¼ cent sales tax and the bond to ensure our schools get the necessary funding without burdening homeowners.

What would the bond fund?

The bond would begin the process of improving Guilford County schools where the average age of school facilities is 54 years.

The Facilities Master Plan found that 50% of Guilford County Schools are in poor or unsatisfactory condition. The overall need is nearly $2 billion in school improvements.

This bond would get the ball rolling by addressing the most pressing rebuilding and renovation needs. Future phases would help address the full need which includes 19 full school renovations, 22 new schools built on current sites, 7 new schools constructed, and 56 schools in need of major repairs.

How much revenue would the sales tax generate?

It is estimated that the sales tax would generate roughly $19 million annually. Over 20 years, the quarter cent sales tax could fund up to $800 million of the $2 billion need in school improvements.

Will the school bond raise my property taxes?

If the school bond passes without the quarter cent sales tax, Guilford County property taxes will increase dramatically. Here’s one scenario according to First Tryon’s recommendations to Guilford County: “If the bonds are released in one (1) $300 million issuance, the one-time property tax increase will be approximately 1.70¢.” This would increase Guilford County’s property tax by 1.02%, the most pronounced increase in years. Without the sales tax, the passage of the school bond will necessitate property tax increases for years to come. The sales tax is the only way to pay for the bond and avoid a property tax increase.

Have other counties passed a similar sales tax?

Yes. Rockingham, Randolph, Davidson, and Forsyth counties have all recently passed a similar quarter cent sales tax increase. 42 counties in North Carolina have approved this tax.

What are some helpful resources about the bond and tax?

Guilford County School Bond and Tax Portal

Guilford County Facilities Master Plan

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