Wilmington assessed valuation up about 53% in FY2026 budget figures

Wilmington's recommended FY2026 budget figures put assessed valuation at about $35.303 billion, up from about $23.086 billion in FY2025. That is a rise of about 52.9%, or roughly $12.22 billion.

Compared with FY2022, when assessed valuation stood at about $21.666 billion, the FY2026 figure is up about 62.9%.

Assessed valuation is the property-tax base used in local budgeting. Large year-to-year jumps often reflect revaluation cycles as well as new construction; this analytic does not state that a revaluation caused the change, and the FY2026 figure is labeled as recommended.

These figures track assessed value, not tax bills. Millage rates are not included in this analytic, so the roughly 53% increase should not be read as a matching change in what property owners pay.