City and county leaders want to move forward with $50 million housing bond and sales tax increase
WILMINGTON, N.C. (WECT) - Affordable housing and transportation projects — two common concerns voiced by folks in Wilmington and New Hanover County were the topics of discussion earlier today. On Wednesday, the city/county joint subcommittee met to discuss several programs that could help with both, but would ultimately end up costing taxpayers.
On Wednesday, members of the subcommittee agreed to move forward on recommending the approval of the $50 million bond as well as a 1/4 cent sales tax increase.
One of the biggest items of discussion is the proposed $50 million affordable housing bond. It’s a measure that voters would have to approve in order for it to pass, and would tack on additional money to people’s property taxes.
Essentially, in order to help fund affordable housing, the bond would increase the cost of existing housing.
Transportation is another hot topic in Wilmington as more people move here, they bring more vehicles and congestion is a common sight on the limited number of roads in the Port City. In order to address transportation as a whole, city and county leaders are recommending a 1/4 cent sales tax increase — a quarter of a penny — in order to raise money.
An idea to have a $7 vehicle registration fee failed to get enough support from leaders in order to move it forward.
If both city council and the county commission decide they want to move forward with these recommendations, it will be up to voters to ultimately decide in November 2022.
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