Wilmington's Budget: No Tax Hike, But Assessment Woes Persist
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Show Notes
Wilmingtons Budget Struggles: No Property Tax Hike, But Assessment Woes Persist
Wilmington Mayor John Carneys budget for fiscal year 2027 avoids a property tax hike, but the citys plan to address sky-high assessments in urban neighborhoods has hit a snag. The city had planned to hire a third party for block-wide reassessments, but no bids were received after a request for proposals. The city is now reaching out to the four companies that expressed interest to understand why they didnt bid. Homeowners in the dense core saw significant increases last year, leading to over 2,600 appeals. The budget is balanced, but tax stabilization reserves were used to cover a deficit. Water and sewer rates are increasing by nearly 10%, and the city may resort to individual property appraisals if a bulk fix isnt found. The city is pushing for answers from the companies and is optimistic about new assessment tools from the county.
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