In a recent government meeting, officials discussed the upcoming 2.6 mill property tax levy aimed at addressing a significant annual deficit in the city’s budget. The levy, which will appear on the ballot, was initiated following an estimate from the Butler County auditor and the adoption of two resolutions by the city council.

A key aspect of the discussion centered on the financial contribution from Miami University, which has a substantial impact on local emergency services due to the volume of calls related to its campus. Although the university is property tax exempt, an agreement was reached for Miami to contribute $1,270,000 annually for ten years, contingent upon the passage of the levy. If approved, this partnership is expected to generate a total of $2,550,000 each year, significantly alleviating the city's budget shortfall.

Officials provided examples of how the levy would affect local property taxpayers. For instance, a home valued at $200,000 would incur an additional $182 in taxes annually. The rationale for opting for a property tax rather than an income tax increase was also explained, highlighting that Oxford currently has the highest municipal income tax rate in Butler County, which includes a school district tax.

The meeting further detailed the comparative property tax rates across various jurisdictions in Butler County, noting that even with the proposed increase, Oxford would maintain a lower effective tax rate than many neighboring areas. The discussion also touched on the historical context of property tax regulations in Ohio, specifically referencing House Bill 920, which limits revenue increases from property taxes unless new properties are added to the tax rolls.

Overall, the meeting underscored the city's strategic approach to funding essential services while balancing the financial burden on residents.