Pending review and recommendation by the Oakland County Finance Committee and a passing vote by the county commission on Nov. 1, the $178,000 assessment that may’ve been on the winter tax roll for township residents in the Oxford Multi-Lakes Special Assessment District could be spread over a five-year period.
A resolution, created by Commissioner Brad Jacobsen (R-Oxford) that was adopted last week by the Board of Commissioners, authorizes the advancement of $150,000 from the county’s Long Term Revolving Fund to the special assessment district with an annual interest rate of 5.06 percent for the repair of the damaged dam off W. Drahner Rd. The amount would be paid in five annual installments.
The county’s revolving fund, according to Jacobsen, is made up of interest collected on past due property taxes.
He said the Oakland County Drain Commissioner’s Office (OCDC), who in the past said they didn’t want to spread the project over a few years, was ‘in agreement? with the resolution.
A public hearing from the OCDC is officially scheduled for Thursday, Nov. 15 from 7-9:30 p.m. at Christ the King Church (1550 W. Drahner Rd.).
The OCDC estimates the cost of the dam project to run $163,103, with an $8,700 extra added in case the contractor bids come in higher.
Residents on the Oxford Multi-Lakes assessment usually pay a total of $6,100 for operation and maintenance of the county dam.
Although the amount residents will pay this winter will be more than last year, Jacobsen said it won’t be as extreme as originally thought.
He said that although he’s ‘very pleased? that the OCDC agreed to spread the cost over five years and that it will ‘relieve the burden? from a lot of the taxpayers, the exact amount the township will assess next February still needs to be determined before tax bills are mailed out Dec. 1.