Wilmington Budget Director Lynn Heim presented City Manager Sterling Cheatham’s recommended budget for the 2015-2016 fiscal year.
“Public safety and debt, which is partly infrastructure improvements, will consume 99 percent of the city’s property tax collection,” Heim said during council’s May 19 meeting.
Property taxes make up 59 percent of the total budget. The proposal included a property tax increase of 2.5-cent per $100 assessed value, which will raise the tax rate to 48.5 cents per $100. “The two cents represents two cents that the citizens were aware of, the cost of the transportation bond that was approved in November…This increase comes to approximately $3.51 per month on the average home value of $168,000,” Heim said.
Wilmington resident R.J. Davis voiced his objection to the proposed property tax increase.
“I think that’s way too much for the taxpayer. . . . A lot of people here are retired and on fixed income,” he said. “I’m asking the voters to turn down this proposition.”
Council will meet again Tuesday, June 2, for the first vote on the proposed budget. The second vote will take place on Tuesday, June 16.
To view the budget, visit the New Hanover County Public Library or visit the city’s website at www.wilmingtonnc.gov
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