Rough times ahead for taxpayers in New Hanover. And to think such an error might end up being the rationale for a new property tax increase.
Wilmington – The county’s tax administration erroneously included tax-exempt properties such as schools, government buildings, churches and other nonprofits in the tax base for the budget year that began July 1. The error means New Hanover County, Wilmington and the three beach towns will have about $10.5 million less in revenue this year than they thought they would.
Ouch! This represents 2.5% of the county’s budget and 4% of the City of Wilmington’s budget. Bear in mind that Wilmington doles out $2 million to non-profits annually and New Hanover county gives out an additional $1 million. As of last year the city ranked #2 statewide in spending.
