OXFORD – Village of Oxford residents will face a 2.2 percent tax levy increase as well as higher water and sewer rates in the coming year as a result of the spending plans adopted by municipal leaders following a public hearing Tuesday.
According to budget documents, the village’s general fund budget will total $1,000,000, an increase of $21,240, or 2.2 percent, increase over the current fiscal year. In a written narrative, Mayor Terry Stark described the change as a “modest inflationary increase” necessitated by rising employee pension and health insurance costs, which will increase by 14 percent this year. At the same time, there has been a 28 percent decline in revenue from fines and forfeitures. Stark said he expects these to be partially offset by expected increases in sales tax revenue and cable franchise fees.
Water rate increases went into effect April 1. Residents will see these changes reflected in their July 1 water bills. The quarterly base rate for those living within the village limits and in the Town of Oxford Water District #1 will increase by $1, from $37 to $38. Usage over and above the quarterly minimum of 4,000 gallons will remain at $3.50 per thousand gallons.