Corning Inc. paid $820,157 in property taxes in 2011, making it New Hanover County’s top taxpayer. Photo by Si Cantwell.
The New Hanover County Tax Administrator’s office supplied the Top 10 for 2011. Here they are with the amount of tax each paid:
1. Corning Inc. $820,157
2. Progress Energy $219,825
3. River Ventures LLC (PPD) $206,474
4. Centro Independence LLC (Independence Mall) $186,635
5. BellSouth $144,990
6. Mayfaire Retail LLC $128,535
7. GS II University Centre LLC $128,349
8. NNP IV Cape Fear River LLC $124,561
9. Wal Mart $114,791
10. Mayfaire Spe B LLC $110,642
RELATED LINKS:
What percentage of city and county taxes come from homeowners and from business?
How is sales tax split among city, county and state?
Date posted: October 26, 2012
User-contributed question by:
Chuck Kuebler
Really suprised GE isn’t in top ten, or do they get perks?
So it would be interesting to see how much would be owed without tax breaks to Corning and others. I would assume that is why GE is not listed? They sure have a big foot print. I assume Corning gets hit with city and county taxes.
Then the other big business with no taxes are New Hanover Medical and UNCW. Being government they pay no property tax.
GE is not in the City of Wilmington.
While GE has a large chunk of land. I would think it’s location would mean the value of said land is very low. The properties on this list are all in high-density/high-value areas near or within the city limits.
Wilmington Business Development’s site has a lot of data, including “NH County’s ten largest taxpayers (2010)”. Progress Energy is #1 at $1.25M and GE is #2 at 1.15M. Corning is at $971K and then it drops off a cliff to #4 and beyond. Here is the link: file:///C:/Users/Owner/Pictures/NH%20COunty%20top%20ten%20taxpayers%202010.htm
Perhaps most amazing is that the same group (WBD) commissioned an “annual economic impact of a cement manufacturing plant” in April 2008, which projected annual county property tax of $2.4 Million for Titan’s proposed new cement kiln/plant…which would mean more than Progress Energy and GE combined! Of course, Titan owned the land at the time of the estimate, and still do, and they appear NOWHERE on the “top taxpayers” lists. This was one of the more laughable schemes ever pulled in modern Wilmington economic history. But the data for 2011 gets murkier based on this Nov 2012 story in the Triangle Business JOurnal: “In coastal New Hanover County, the top property taxpayer is Corning Inc., at $820,157, followed by Progress Energy’s $219,825.” So, what does this mean? Maybe it’s why WBD has not updated their list beyond the 2010 data!!