PROPERTY TAX: The 2021 property tax receipts are slightly above budget. The city of Oakwood has two voted property tax issues. Of the total property tax bill that Oakwood residents pay, only about 8% is received by the city to pay for city services.
The 2021 Residential Real Estate Tax breakdown consists of 70.1% to Oakwood Schools; 1.7% to Montgomery County; 0.3% to Developmental Disabilities; 1.8% to Five River MetroParks; 12% to Human Services; 3.5% to Sinclair; 8% to the city of Oakwood; and 2.6% to Wright Library.
3.75 Mill Property Tax:
The tax issue was first approved in May 2013.
It has a five-year term and started generating revenue in 2014.
The current effective mills is 3.33.
The tax issue raises about $1,060,000 annually.
The tax on a $200,000 value home is about $203 annually.
It expires in December 2023.
2.72 Mill Property Tax:
The tax issue was first approved in November 1991.
It has a five-year term and started generating revenue in 1992.
The current effective mills is 1.27.
The tax issue raises about $468,000 annually.
The tax on a $200,000 value home is about $78 annually.
It expires in December 2026.
The 2.72 Mill tax issue was renewed by Oakwood voters on November 2 by a 76.4% yes vote. This is the second highest yes vote in the seven times that the issue has been on the ballot.
2022 GOALS & OBJECTIVES: The following goals and objectives will be included in the 2022 budget book:
Promote development of the Kettering Health Network building, Sugar Camp western office building, and Randall Residence property.
Gardner Pool improvements.
Develop plan to implement a Water System Computer Model.
Far Hills, Dellwood, Forrer and Devereux storm sewer improvements.
Develop multi-year plan for rebuilding traffic signal system.
Develop Geographical Information System (GIS).
2022 BUDGET OVERVIEW: The 2022 proposed budget reflects no increases in income tax, property tax, or any increases to refuse, water, sanitary sewer, or stormwater fees. The goal is to avoid property tax increases over the next few years, after renewing the 2.72 mill issue last month, and asking for a renewal of the 3.75 mill issue in 2023. Below, in millions, are 2022 budgeted expense figures:
General City Services:
$14.8
Refuse Operations:
$1.6
Water Utility:
$1.4