Income Taxes

Shown below are income tax collections since 2016. Looking at a 10-year history, income tax receipts represent 60% of total revenue. Income tax receipts in 2025 represented about 61% of annual revenue. Oakwood gives a 90% credit for municipal income taxes paid to another political jurisdiction.

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Gross Income Tax 10-Year History ($ Millions)

Year	Gross Income Tax ($ Mil)
2016	7.35
2017	7.52
2018	7.37
2019	8.25
2020	8.63
2021	9.97
2022	10.74
2023	10.82
2024	11.57
2025	11.28
2026 Budget	11.55

General City Services Revenue

10-Year Average

21.4% 18.2% 60.3%

Income Tax, Net

Real Estate Tax

Other

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General City Services Revenue 10-Year Average Percentage Breakdown

Revenue Source	Share (%)
Income Tax, Net	60.3%
Other	21.4%
Real Estate Tax	18.2%