How long will it take to pay back the bond?
The County anticipates having this debt paid in 20 years, if not sooner.
Will the County need to raise my taxes to pay for this bond?
Yes. The County cannot repay this bond, if approved, without a tax increase. For the average home in Cherokee County valued at $200,000, the tax increase would be approximately $62.00 per year, a small price to pay for higher quality of life and potentially higher property values! Also note that Cherokee County is still experiencing accelerated growth. This figure could potentially decrease as more residents move to Cherokee County and the cost is averaged over more homes.
Have other counties approved similar bonds for Parks and Recreation?
Yes - Cherokee County is long overdue in funding for Parks and Recreation. As a comparison, Forsyth County just voted YES to a $100 Million dollar bond for Parks and Recreation this year. Dekalb County voted YES to a $125 Million dollar bond in 2001 for Parks and Recreation and then another $96 Million dollar bond for more greenspace in 2005. Gwinnett County also voted YES in 2005 to a SPLOST of $180 Million for Parks and Recreation.
Will this bond replace the operating budget of the Cherokee Recreation and Parks Agency?
Bond funds apply to land acquisition, major capital repairs and renovations, and the development of new facilities. This funding does not replace the annual operating budget of the Parks and Recreation Department for routine operations and maintenance costs.