The second of three public hearings on Oakwood’s tax rate for 2018 — hiking taxes for some residents — is set for 6 p.m. Monday at City Hall, 4035 Walnut Circle.
City officials propose keeping the rate at 4.174 mills, with 1 mill equal to $1 for each $1,000 in assessed property value. But for the South Hall city to remain revenue-neutral, it would have to drop the rate to 3.937 mills.
The increased tax revenue is due to higher property assessments.
Oakwood tax rate hearing
When: 6 p.m. Monday
Where: Oakwood City Hall, 4035 Walnut Circle
So, for those who saw values rise, their taxes would go up. Taxes would stay the same for those who saw values stay the same or go down for those who saw values drop.
The council’s “direction is to maintain the current rate in order to meet 2018 budget goals and accommodate anticipated 2018 expenses for operating, capital and debt service,” City Manager Stan Brown has said.
The first hearing was held Sept. 18. The last hearing is set for 6 p.m. Oct. 9, also at City Hall.
The new budget year starts Jan. 1.