I'm sure everyone has seen the entire map of New Hanover County divided into prospective sections to annex for the city's empire - all the way to Snow's Cut. What I wonder is that does the city realize that their budget projections for property values will be 30-40% off due to devaluation from foreclosures and short sales. Tax values were estimated by the county at the peak of irrational exuberance in the real estate market. What this means to ALL CITY residents is that the tax rates will have to increase to make up the shortfall.
Something I do not understand is just what the City of Wilmington intends to do with the imaginary windfall of annexed property taxes? Build more useless crap like the convention center? The worst thing is that the City makes no secret of it's intent to annex areas that need little or no infrastructure investment first. Basically, they want to annex and tax, and provide nothing to these areas.
To the City residents who would say "move farther out...," or "everyone needs to pay their fair share", I just want to say that I don't live in the city by choice. What does the cty provide for you? What do you get for your city taxes? The answer is: the same thing that I get for my County taxes - so why do you pay both city and county?
Annexation should be voted upon by the proposed annexation population. Last I checked this was a democracy - not a city dictatorship.
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