School construction and renovation projects are on the ballot in local funding referenda across the Commonwealth. Voters in six localities will decide whether to approve taking on debt for the projects. In Danville and neighboring Pittsylvania County, they’ll vote on instituting one percent sales taxes to help fund the local projects.
“It’s very typical,” Senator Chap Petersen (D-Fairfax City) said. “Localities are allowed to issue public indebtedness in order to build schools. And typically, in order to bind the taxpayer with what’s called a general obligation bond, they have to go to a referendum. I’d say ordinarily most school systems have a referendum eight to ten years. Now, smaller jurisdictions, like where I live in Fairfax City, which is 25,000 people, it usually is less likely to go to a referendum unless you’re building a new school altogether, otherwise they’ll typically pay for these projects out of operating funds.”Read More