Public hearing tonight on City of Wilmington budget
WILMINGTON, NC (NEWS RELEASE) — Public hearing and first of two votes on the 2012-13 recommended budget.
Ø A hold-the-line budget that maintains core services but does not include any significant increases for new or enhanced services;
Ø Proposes a 3-cent tax increase that would provide dedicated funding for needed maintenance and infrastructure, such as street and sidewalk repairs and paving, which have been put on hold during the economic downturn. If approved, the funds would be put into a separate account to pay for a five-year maintenance plan that could not be used for anything else. According to the 2012 Citizen Survey, maintenance and infrastructure needs are the top priority for city residents.
Ø According to data from the 2011 New Hanover County property revaluation, even with the increase, more than 50% of property owners would still pay the same or less in taxes because of decreased property values.
Ø A second and final vote is scheduled for the June 19 council meeting.
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