MORRISVILLE — It’s good to be Morrisville.
That was the mantra Mayor Jackie Holcombe repeated throughout her 30-minute State of Morrisville speech Thursday. She highlighted the town’s improved bond rating, low cost of living and upcoming transportation projects during the annual Chamber of Commerce event.
Morrisville was named the best place in North Carolina to raise a family by Nerd Wallet, a consumer financial news website.
“We’re doing something right,” Holcombe said.
In the past year, Morrisville has seen a 50 percent increase in business ribbon cuttings and an 8 percent rise in new building permits.
The town’s improved AAA rating from Standard & Poor led to a low 2.5 percent interest rate on some long-awaited park bonds which were recently sold, Holcombe said.
In terms of population, Morrisville is the seventh-largest town in Wake County, but it has the fifth-largest tax base. Residents here earn the highest individual median income in Wake County.
“We’ve got a growing tax base, we have strong finances, we have low debt, we have healthy reserves,” Holcombe said. “We are in good shape, and it shows.”
Morrisville raised its tax rate for this coming year from 36.65 cents per $100 of assessed value to 39 cents. The additional revenue will help pay for the N.C. 54 Bypass project to ease traffic and also for regular road maintenance.
While Holcombe touted the town’s progress and projects, Wake County Commissioners Chairman Joe Bryan tried to rally support for the $810 million school bond referendum that will go to voters Oct. 8.
Bryan said the school bond was the No. 1 priority for commissioners. The money would be used to build 16 news schools, renovate six schools and make technology upgrades throughout the system.
“We will be asking you to vote for the school bond issue because it’s needed for our children and our grandchildren to have a place that’s safe to learn,” Bryan said.
If approved, the bonds will come with a 5.5 cent property tax increase.