Oakwood is looking to keep its property tax rate the same in 2019, but that still could mean a slight tax increase for some residents.
The South Hall city is proposing a tax rate of 4.174 mills, with 1 mill equal to $1 per $1,000 in assessed property value.
However, for Oakwood to keep revenues at the same amount, the city would have to set the rate at 4.093 mills. At 4.174 mills, a home valued at $225,000 would have a tax bill that’s $7.29 higher than at 4.093 mills.
Still, those with higher property assessments could see higher tax bills. Those who saw assessments stay the same or go down will see tax bills likewise stay the same or go down.
Because the city isn’t rolling back to revenue neutral, it has set public hearings for 6 p.m. Sept. 17, 6 p.m. Oct. 1 and 6 p.m. Oct. 8. The hearings will take place at Oakwood City Hall, 4035 Walnut Circle.
The taxes would go to support the city’s 2019 budget, which takes effect Jan. 1.