Stormwater Utility Fund receipts through October are at 83.72% of budget and disbursements and encumbrances are at 85.55% of budget.

At the end of 2022, the City will have continued to provide comprehensive public services and, based on current projections, will have:

• $2,003,672 more in General City Services funds.
• $176,204 less in Refuse funds.
• $200,184 less in Water funds.
• $1,440 less in Sanitary Sewer funds.
• $20,774 less in Stormwater funds.

In the General City Services funds, about $500,000 in revenue is from the 2022 Federal ARPA (American Rescue Plan Act) distribution, and about $1,000,000 is from higher than budgeted income tax and property tax receipts.

• MUNICIPAL INCOME TAXES: Gross Income Tax collections through November are about 10% above November 2021. This increase is primarily attributed to three things:
  • Income generated by the additional people living in Oakwood in the homes and condominiums at Pointe Oakwood.
  • Increase in Oakwood residents working from home, thereby directing their local income taxes to Oakwood rather than other jurisdictions.
  • Despite economic conditions, total earned income in Oakwood has increased.
• PROPERTY TAX: The 2022 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 2022 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 3.03.
  • 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.