Voters in Buncombe County’s 2026 midterms will elect three of the commissioners who shape the county’s budget. But residents will also have some direct control over the budget itself through two ballot measures on bonds.
Together, the two referenda would authorize $70 million in new county borrowing, to be repaid through increased property taxes. The money would be earmarked for affordable housing and “open space” projects like farmland preservation and outdoor recreation.
Although Buncombe voters previously signed off on $70 million in bonds for similar priorities in 2022, backers of the ballot measures say the county needs more money to keep progressing toward its goals. Others question the timing of the referenda, which come in the wake of a roughly
12.6% tax increase and disagreements with the state legislature over property appraisals.
What would the bonds pay for?
The first referendum would approve $30 million in bonds for “the acquisition and improvement of land or interests therein for conservation purposes,” as well as “the development of parks, greenways, trails, and other outdoor recreational opportunities.”
Much of that money would further Buncombe’s strategic goal of conserving at least 700 acres of land annually. The county is especially focused on preserving farmland from development pressure, which it accomplishes through conservation easements. Other funds would support assets like the new, 342-acre Deaverview Mountain Park.
The second ballot measure seeks $40 million “to pay the capital costs of housing for the benefit of persons of low or moderate income.” Buncombe wants to support up to 1,850 new rental units and 400 ownership units affordable for residents making less than 80% of the area median income — $81,900 for a family of four — by 2030. So far, according to a county dashboard, 428 new units have been created.
How much will the bonds cost the county?
Due to interest costs, the total expense of bond-related borrowing for the county will be substantially higher than $70 million.
As listed in the bond referenda, the open space bonds would require an estimated $17.6 million in interest, while the housing bonds would take about $23.5 million. That puts the total overall cost over the bonds’ 20-year repayment at about $111.1 million.
How much will property owners pay?
The bond referenda estimate that the property tax increase necessary to cover the borrowing works out to $9.60 per $100,000 of assessed value. For the median home that sold in Buncombe County last month — worth $505,000, according to Realtor.com — that works out to $48.48 per year. Over the 20-year repayment period, the total cost would be about $970.
Who’s backing the bonds?
The main group supporting the referendum is “Vote Yes on Bonds.” Led by former county Board of Commissioners Chair Brownie Newman and Leah Wong Ashburn, president and CEO of Highland Brewing, the campaign has brought together nearly 20 nonprofits and community organizations. Advocates include the Asheville Area Chamber of Commerce, MountainTrue, and the Sierra Club.
According to paperwork filed with the Buncombe County Board of Elections, Vote Yes on Bonds had reported just one financial contribution as of June 24: $200 from current county board member Terri Wells. Newman told the Citizen Times that more funding, primarily through grassroots donors, will support efforts like yard signs, paid digital advertising, and mailers to county voters.
“Campaign volunteers have been actively attending community events throughout the county to provide information about the affordable housing and conservation bonds and the success that has been achieved from the passage of the 2022 bonds that we want to see sustained going forward,” Newman added. “Our volunteers are also planning to share information at the polls as voting begins.”
When does voting happen?
Voting on the bond referenda — and all other matters on the Buncombe County ballot — is already underway by mail. In-person early voting in begins Thursday, Oct. 15, and runs through Saturday, Oct. 31. Election Day is Tuesday, Nov. 3. The Citizen Times has compiled this guide outlining when and how to vote.
Daniel Walton is the City Government Watchdog Reporter for the Asheville Citizen Times. Email him at dwalton@gannett.com.
This article originally appeared on Asheville Citizen Times: Buncombe midterm voters to decide on $70M in new county borrowing
