Wilmington property owners will see a smaller tax increase than expected under a budget compromise announced by Mayor Dennis P. Williams and City Council President Theo Gregory Monday.
The compromise calls for a reduction in the proposed property tax increase from 9.9 to 5 percent. A five percent translates to $3.31 more a month for a property with a city-average assessed value of $45,000.
The budget also reduces the proposed water/sewer fee to 5 percent from 8 percent, a $2.39 per month increase for those who use more than 12,000 gallons of water every quarter.
To make up the difference, Mayor Williams and Council will cut $794,000 dollars in spending, including eliminating four currently vacant positions. Those positions are Booting Specialist in the Finance Department, Fleet Manager in the Public Works Department, Legal Administratorin the city's Law Department and Document Manager in the Mayor's Office of Information Technology. There will also be a lower than expected surplus for the year. The compromise FY 2015 budget projects a $1.4 million dollar surplus, down from $2.75 million.
The budget deal also adds $353,000 to fund a one-time police academy to fill vacant police officer positions.
The deal is slated to be voted on during Thursday's regular City Council meeting.
