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Oakwood budget hearing draws no residents
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No one showed for Oakwood’s public hearing Monday on the South Hall city’s fiscal 2015 budget.

City Manager Stan Brown went ahead anyway and presented budget information to Oakwood City Council.

With the fiscal year starting Jan. 1, the budget adoption is set for Nov. 10.

The total budget amount is $6.6 million, with a $3.7 million general fund making up most of that.

The general fund consists mainly of operating and capital improvement expenses, as well as debt obligations totaling $683,000.

The city’s debts particularly are hamstringing city finances, resulting in the council’s vote earlier this month to increase the tax rate to 4 mills from 2.658, a 50 percent jump.

Translated, 1 mill equals $1 for each $1,000 in assessed property value, with property assessed at 40 percent. So, taxes on property with a $100,000 value would increase by $53.68.

Tax bills will go out soon, with taxes due Jan. 1.

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