After 12 years, Oakwood residents could see a higher tax rate.
The City Council discussed a possible roll-up to the millage rate during its meeting on Monday night. Currently, the rate is 2.48 mills, with 1 mill equal to $1 for each $1,000 in assessed property value. The proposed rate of 2.658 mills would cost about 2 cents per day for a typical household, according to City Manager Stan Brown.
The change is due to declining property tax revenue, Brown said.
“We didn’t do (a roll-up) last year, and we saw a decrease of about $40,000 in property tax revenue,” he said.
“There’s a cumulative effect where if (revenue) goes down every year, basically your tax base is moving down.”
Brown said total property tax values decreased by 7 percent, and the roll-up will help “level the revenue stream.”
A second public reading on the roll-up will be held during a called meeting at City Hall on Monday at 4 p.m., Brown said.
Also at Monday’s meeting, the city and the Oakwood Family YMCA began exploring the possibility of putting a dome over the swimming pool.
“There’s a number of swim clubs and teams that would make use of that,” Brown said, adding the dome would allow year-round swimming.
He said currently some parents have to take their children to Gainesville for swimming instead.
The city also reported it received a clean audit for 2011.