Taxes to Go Up in Oxford; Public Meeting Planned for Sept. 4

Photo by Talbert Toole.

Oxford Mayor Robyn Tannehill and the Board of Aldermen will hold a public hearing on a proposed ad valorem tax increase for the fiscal year 2018-2019 and on its proposed budget and proposed tax levies for the fiscal year 2018-2019.

The meeting will be held at 5 p.m. on Sept. 4, 2018, in the Courtroom of the Oxford City Hall during the board’s regular meeting.

The city of Oxford is now operating with a projected total budget revenue of $28,255,877. Thirty percent or $8,487,838.00 of such revenue is obtained through ad valorem taxes. For the next fiscal year, the proposed budget has a total projected revenue of $26,730,876. Of that amount, 30 percent, or $8,101,132 is proposed to be financed through a total ad valorem tax levy.

For the next fiscal year, the city of Oxford plans to increase ad valorem tax millage rate by 2 mills from 30.22 mills to 32.22 mills. This increase means that city residents will pay more in ad valorem taxes on your home, automobile tag, utilities, business fixtures and equipment and rental real property.

Any citizen of Oxford is invited to attend this public hearing on the proposed ad valorem tax increase and will be allowed to speak for a reasonable amount of time and offer tangible evidence before any vote is taken.

Hottytoddy.com staff report