Oakwood City Council approved its 2017 budget Monday night.
The $5.3 million spending plan, which takes effect Jan. 1, features a nearly $4 million general fund largely supported by property taxes and fees, a $600,000 special purpose local option sales tax fund and a $700,000 sewer fund shored up by fees and other income sources.
The budget contains nothing out of the ordinary — it mainly keeps operations flowing and debts paid, officials have said.
Some of the key items the city is funding — or repaying debt on — are Thurmon Tanner Parkway, the Upper Mulberry sewer system and land bought as part of its Oakwood 2030 long-range development plan.
Also, the city is busy with several road improvements, including widening of a stretch of Old Oakwood Road near Mundy Mill Road and contributing to a multi-government effort to build a bridge that would extend Tumbling Creek Road across railroad tracks to Old Oakwood Road.
Oakwood residents will have to pay a little more for city functions next year, as a declining property tax digest — or list of taxable properties — is producing lower revenues.
Just to keep revenues the same, the council has voted to up the tax rate to 4.174 mills from 4, with 1 mill equal to $1 per $1,000 in assessed property value, which is 40 percent of the fair market value minus exemptions.
Under that increase, the owner of property with a $100,000 fair market value and no exemptions could see taxes go from $160 to nearly $167.