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Oakwood proposing $3.9 million budget
Spending plan could result in tax increases for some
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Oakwood rolled out a $3.9 million general operations, no-frills budget Monday night.

No new positions are proposed. Employees could get a small cost-of-living pay increase, plus performance-based longevity increases are being restored.

Otherwise, much of the city's budget will go to cover debt obligations, particularly stemming from land buys as part of the city’s long-range development plan Oakwood 2030 and right of way purchases for Thurmon Tanner Parkway.

Supporting the budget is a tax rate of 4 mills, with 1 mill equal to $1 per $1,000 in assessed property value. The rate is the same, but, because of property reassessments, it may mean higher taxes for some residents.

The city is holding public hearings because, at 3.6 mills, Oakwood would produce the same amount of revenue that was produced this year.

The last hearing is set for 6 p.m. next Monday at Oakwood City Hall, 4035 Walnut Circle.