OAKWOOD — Oakwood City Council on Monday night approved an ordinance to place a property tax renewal issue on the Nov. 7 ballot.
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The tax issue maintains the current level of property taxation and will not increase property taxes, according to a news release from City Manager Norbert Klopsch’s office.
The city has an existing 3.75 mill property tax levy that is due to expire at the end of 2023. The 3.75 mill levy was first approved by Oakwood voters in 2013, and was renewed by Oakwood voters in 2018.
The current effective residential millage rate of this tax levy is 3.03. The issue raises about $1.08 million annually and pays for Oakwood public services including police, fire & emergency medical response, street and alley maintenance, and public parks. It costs about $93 per year for each $100,000 in residential property valuation.
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