By a 2-2 vote, with one council member excused absent, Oakwood City Council rejected an ordinance Monday that would set a 1.75 percent credit limit on municipal taxes paid to other communities.
Within the past 18 months, to address a budget shortfall resulting from the elimination of the Ohio estate tax and the reduction of the local government fund, Oakwood voters approved a property tax increase, and the City has made significant changes to the refuse program and to staffing levels. Despite these changes and a reduction in city expenditures in each of the past five years, a financial shortfall remains.
City Council considered establishing the 1.75 percent credit limit to address the shortfall. STAFF REPORT
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