Policy in Process

Amendment One passed.  Are your taxes going up?

Contrary to what some Amendment One opponents have said, Amendment One was not a tax referendum and it is not a tool for raising your taxes.  Amendment One is simply legislation that gives local governmental bodies (like the Town of Cornelius) an additional option for financing town projects.  Before the approval of Amendment One, the Town had three options bonds, installment financing, or pay in cash.  While all three of these options may be the right choice for certain investments, Amendment One will provide an additional option that could reduce the cost of financing and/or the "risk mix" for certain projects.

Now that the legislation has been supported by a majority of the voters, our Town will begin explore how this legislation may be used for a handful of projects the Town will take on over the next decade.  At an upcoming town meeting, I have requested that we have an expert on Amendment One present materials to educate the Town Board and interested citizens.  Look for additional updates and rest assured that any decisions, which affect the fiscal obligations of our Town (read: the tax paying citizens of Cornelius) will be carefully considered.

If you would like to learn more about Amendment One, CLICK HERE and you can send me a confidential message or give me a call at (704) 895-1769.