Wilmington City Council Members Share Thoughts On Fiscal Year Budget And Property Tax Increase | Old North State Wealth News
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Wilmington City Council members share thoughts on fiscal year budget and property tax increase



WILMINGTON, NC (WWAY) — Wilmington City Council approved the city’s budget for the upcoming fiscal year Tuesday night. One of the biggest headlines; there will be a property tax increase for Wilmington residents. 

The nearly $300 million budget is a 15% decrease from last year’s budget due to the purchase of the Skyline Center last year.  

“As a result of poor decision making on what floors we decided to occupy, we are maybe having a little bit more difficulty leasing up those properties than we anticipated,” Wilmington City Councilman Luke Waddell said. 

Council approved a tax rate of 42-cents per $100 of property valuation. That’s more than a 6% increase from last year. The city said funds raised by the increase will be used for various capital improvement plans and infrastructure work.    

City Councilman Luke Waddell said he was not in favor of the tax rate increase. He suggested reworking the budget so it would be less of a burden on taxpayers.  

“If we could really sharpen the pencil on our budget and find a way to not increase the taxes. That was something that was paramount. Instead, they voted to increase your taxes by 7%,” Waddell said. 

Some council members agree with Waddell about not wanting to raise taxes, like Councilman David Joyner. He believes this increase is a direct correlation of last year’s Skyline Center purchase.  

“The tax increase presented last night has been articulated by city staff and city finance as being related to capital improvements. The practical effect on Wilmington residents’ checkbooks and pocketbooks is that Skyline Center was purchased in 2023 and there’s a tax increase in 2024,” Joyner said. 

Others were in favor of the increase and said the funding will be put to good use. Councilwoman Salette Andrews said this budget will assist in addressing many concerns, including the affordable housing crisis.   

The city will also raise vehicle registration fees to $25. 

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