Public Hearing on Proposed Tax Increase
August 26, 2018
Notice of a Tax Increase and a Public Hearing The Mayor and Board of Aldermen of the City of Oxford, Mississippi, will hold a public hearing on a proposed ad valorem tax increase for fiscal year 2018-2019 and on its proposed budget and proposed tax levies for fiscal year 2018-2019 on Tuesday, September 4, 2018, at 5:00 PM in the Courtroom of the Oxford City Hall.
The City of Oxford is now operating with projected total budget revenue of $28,255,877.00. Thirty percent (30%) or $8,487,838.00 of such revenue is obtained through ad valorem taxes. For the next fiscal year, the proposed budget has total projected revenue of $26,730,876.00. Of that amount, thirty percent (30%) or $8,101,132.00 is proposed to be financed through a total ad valorem tax levy.
For the next fiscal year, the City of Oxford plans to increase your ad valorem tax millage rate by 2.00 mills from 30.22 mills to 32.22 mills. This increase means that you will pay more in ad valorem taxes on your home, automobile tag, utilities, business fixtures and equipment and rental real property.
Any citizen of the City of Oxford is invited to attend this public hearing on the proposed ad valorem tax increase, and will be allowed to speak for a reasonable amount of time and offer tangible evidence before any vote is taken.
Notice of a Tax Increase and a Public Hearing The Mayor and Board of Aldermen of the City of Oxford, Mississippi, will hold a public hearing on a proposed ad valorem tax increase for fiscal year 2018-2019 and on its proposed budget and proposed tax levies for fiscal year 2018-2019 on Tuesday, September 4, 2018, at 5:00 PM in the Courtroom of the Oxford City Hall.
The City of Oxford is now operating with projected total budget revenue of $28,255,877.00. Thirty percent (30%) or $8,487,838.00 of such revenue is obtained through ad valorem taxes. For the next fiscal year, the proposed budget has total projected revenue of $26,730,876.00. Of that amount, thirty percent (30%) or $8,101,132.00 is proposed to be financed through a total ad valorem tax levy.
For the next fiscal year, the City of Oxford plans to increase your ad valorem tax millage rate by 2.00 mills from 30.22 mills to 32.22 mills. This increase means that you will pay more in ad valorem taxes on your home, automobile tag, utilities, business fixtures and equipment and rental real property.
Any citizen of the City of Oxford is invited to attend this public hearing on the proposed ad valorem tax increase, and will be allowed to speak for a reasonable amount of time and offer tangible evidence before any vote is taken.