No one showed for the first of three public hearings on Oakwood’s proposed tax rate for fiscal 2016, which begins Jan. 1.
The South Hall city is proposing to keep the rate at 4 mills, but, because of property reassessments, it may mean higher taxes for some residents.
The hearings are being held because, at 3.6 mills, Oakwood would produce the same amount of revenue that was produced this year.
If the city opted for the lower tax rate, the loss in revenue would be about $100,000, City Manager Stan Brown has said.
Still, it’s money the city needs as it faces down some huge debts, 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.
Other public hearings are scheduled Oct. 6 and Oct. 12. They are set for 6 p.m., with both taking place at Oakwood City Hall, 4035 Walnut Circle.