The good news is Oxford Village residents won’t receive a tax increase when their July 1 bill comes in the mail.
The bad news is they won’t be receiving a tax cut either.
Council voted last week to approve an $8,289,781 budget for the 2007-08 fiscal year supported by an 11.12-mill tax on all real and personal property in the village.
This is the second year in a row council has voted to levy 11.12 mills.
A mill is equal to $1 for every $1,000 of a property’s taxable value.
Of the total budget, $2,480,127 is dedicated to the general fund.
General fund highlights include $147,301 for the Department of Public Works, $106,775 for the manager, $193,914 for the clerk’s department, $75,416 for the treasurer, $101,330 for the village attorney, $95,440 for parks, $52,500 for public relations, $50,605 for downtown maintenance and $38,546 for parking lot maintenance.
Outside the general fund, council approved a $1,439,515 budget for the Downtown Development Authority.
An $895,887 budget was approved for the village police department along with $286,535 for dispatch services.
The village’s water fund has $1,479,262 in it while the sewer fund consists of $645,360. A total of $710,986 was budgeted for streets.
The village’s new fiscal year begins July 1 and ends June 30, 2008.