NH Co. & Wilmington Looking to Hike Property Taxes
By Catherine M. Welch
Wilmington, NC – Both the City of Wilmington and New Hanover County are looking at filling budget gaps by boosting property taxes.
The Wilmington City Council will hold its first public hearing tonight on a budget that calls for hiking property taxes to 37 cents per $100 assessed value.
That's an additional $70 a year for a $185,000 home.
The city says this will raise enough to offset a budget gap in a year where local sales taxes are down.
Over at the county, commissioners are mulling over a proposed budget calling for a property tax increase of 1.3 cents.
The county says this will cover nearly half of the budget gap. The other half will be filled by the quarter-cent sales tax approved by voters earlier this month.
The public hearing on New Hanover County's proposed budget is scheduled for June 7th.
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