Why do we have to take on debt?

If we were to pay cash for the projects instead of taking on debt, it would either take us many years to save enough money to fund the projects or we would need to increase the tax rate for several years in order to collect through taxes the cash needed on an annual basis for these projects. Issuing bonds spreads the cost of long-life major projects over time, ensuring that both current and future residents share in the payment of the cost of the community's long-term projects.

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1. Will voting YES on the ballot questions result in a tax rate increase?
2. Why don’t we pay cash for the projects instead of going into debt to pay for them?
3. What are the debt ratio policies? Why are they important? What is the maximum that could be issued while the County maintains its debt ratios?
4. Will these projects increase my taxes?
5. Why do we have to take on debt?
6. Can Goochland County afford the debt service payments on up to $96 million in General Obligation bond debt?
7. What impact will these new bonds have on the Tuckahoe Creek Service District (TCSD) bond debt?