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Oakwood City Council OKs 2009 tax rate

POSTED: October 25, 2008 5:00 a.m.

Oakwood City Council gave its final OK Monday to a tax rate supporting the 2009 budget.

The rate, 2.48 mills, is staying the same, with 1 mill equal to $1 for each $1,000 in assessed property value. Property is assessed at 40 percent.

The city held three public hearings on the rate because it is expected to raise more revenue than it did this year, thanks largely to commercial growth.

City officials are proposing nearly $3.2 million in 2009 general fund expenses, up $348,103 from the $2.8 million 2008 budget.

The biggest dollar increase is in the city’s police department, which is proposing $1.55 million in expenses, up nearly $250,000 from this year. The department wants to hire a full-time clerk and start up a K-9 unit.

The budget year begins Jan. 1.

A public hearing on the budget is set for 6 p.m. Nov. 3. Final budget adoption is set for Nov. 10.



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