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Wilmington staff outline $20.3M shortfall, propose tax scenarios to fund living‑wage plan
Summary
City staff told the council a projected $20.3 million general‑fund gap for FY27—driven by revaluation appeal losses, higher benefits and pension costs—would require tax adjustments ranging from 4¢ to 6.26¢ per $100 valuation to fully fund a proposed living‑wage rollout and CIP projects; staff outlined phased alternatives.
City staff told the Wilmington City Council at a budget retreat that expected revenue shortfalls and rising costs leave a roughly $20.3 million gap for FY27, and presented tax‑rate scenarios to close it.
Becky Hawk, the city manager, said valuation appeals filed with New Hanover County and rising benefit and retirement costs have slowed ‘‘natural revenue growth’’ and driven the shortfall. ‘‘Taking everything into account, the natural growth in tax revenue from real property is expected to only be 0.79% next year,’’ Hawk said, noting 2,548 appeals with about $7.9 billion in…
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