Oakwood City Council has approved an ordinance to place a 3.75-mill property tax renewal issue on the Nov. 6 ballot.
City Manager Norbert Klopsch said that the renewal “maintains the current level of property taxation and will not increase property taxes.”
The property tax levy is due to expire at the end of 2018.
The 3.75-mill levy was first approved by Oakwood voters in 2013 and was the first for city government services since 1991.
“It was needed in direct response to the loss of the estate tax and other cuts to local government funding that were imposed by the State of Ohio,” Klopsch said.
The current effective residential millage rate is 3.32. The issue raises about $1.06 million annually and pays for Oakwood public services including police, fire and EMS, street maintenance and public parks.
The levy costs about $102 per year for each $100,000 in residential property valuation.
In order to meet the filing deadlines for the November ballot, council waived the second reading of the ordinance and voted unanimously to put the renewal levy on the ballot.
City officials say the levy was needed to make up for $3 million lost in 2012 with the end of the Ohio estate tax, under which the city’s 10-year average was $2.6 million a year. The city also noted reductions in Ohio’s Local Government Fund and other revenues.
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