- The total budget for fiscal year 2009-10 is $122,778,183
- More than half of the city's 1,000 employees are in the police and fire departments
- Police
- 312 personnel
- Budget of $23.5 M
- Fire
- 221 personnel
- Budget of $14.5 M
- Property taxes are the primary source of funding for the FY 2009-10 General Fund - which was $80,723,416 - at 54%
- Property tax rate is $.3325 per $100 assessed valuation
- Value of one penny on property tax rate is approximately $1,400,000
- Wilmington's property tax rate is the second lowest of North Carolina cities with populations of 50,000 or more
- Since 1999, the city has only raised taxes once (2009), largely due to the property tax valuation error by New Hanover County
Did you know...
Most of the sales tax generated in Wilmington is not returned to the city, it is returned to the county. Taxable sales within the City of Wilmington account for approximately 83% of the taxable sales within all of New Hanover County; however, only 21% of the actual sales tax dollars are returned to the city. The rest of this money goes to the county, which is able to keep its property taxes lower thanks to this subsidy that city residents pay.
