In June, Wilmington City officials approved the 2021 Fiscal Year budget that will keep the tax rate flat. | Stock Photo
In June, Wilmington City officials approved the 2021 Fiscal Year budget that will keep the tax rate flat. | Stock Photo
Wilmington City policymakers approved the Fiscal Year 2021 budget in mid-June that doesn't raise the tax rate and will maintain core services.
The city's tax rate will remain at 49.84 cents per $100 of assessed property value to help support the $206.6 million spending plan, according to budget information post on the Wilmington website.
The largest budget allocation will go to public safety, which accounts for 28% of the expenses, at $57.2 million. General government operation is the second-largest allocation with $38.7 million, which equates to 19% of the budget.
The spending plan also includes a new debt payment for the Parking Fund for the River Place parking deck, which increased that line-item 55%.
The majority of the budget's revenues come from the tax base. Wilmington leaders estimate collecting $111.8 million through taxes, which represents 54% of the income. Other revenue sources include $43.1 million for service charges, finance sources at $30.1 and intergovernmental at $17.8 million.
The budget also projects collecting approximately $900,000 from investment earnings.
As of July 22, the city has not yet posted the adopted budget online, but when it does the spending plan will be on the manager's page.
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