City Council Passes FY27 Budget
Published on June 17, 2026
At its Tuesday evening meeting, Wilmington City Council voted 4-3 to adopt the City’s FY27 budget, approving a $349.8 million spending plan focused on public safety, employee retention, infrastructure, and service delivery. The budget will take effect July 1, 2026.
The adopted budget includes a property tax increase of 4.9 cents per $100 of assessed valuation. Based on the median assessed home value of $445,000, the increase equates to approximately $18.17 per month for the typical homeowner.
The FY27 budget prioritizes investments in the people and services that residents rely on every day. More than 70% of these increased investments support police and fire operations, including staffing, equipment, and other public safety needs. The budget also adopts the City’s living wage strategy, helping ensure employees are compensated at levels that better reflect the cost of living and support the recruitment and retention of a high-quality workforce. The budget also addresses inflationary and operational cost increases and funds critical infrastructure and capital improvements across the community.
To support these investments while limiting the tax increase, Council approved the use of $2,504,978 from the City’s available fund balance to fund police vehicles and mission-ready gear.
Even with this allocation, Wilmington maintains strong financial reserves and remains well within established fund balance policies. Earlier this year, both S&P Global Ratings and Moody’s Ratings reaffirmed the City’s credit ratings, reflecting continued confidence in the City’s financial management and long-term stability.
The FY27 budget reflects Council’s commitment to balancing fiscal responsibility with the growing service demands of a rapidly evolving community.