Oxford County residents will likely be getting a break on their municipal taxes.
In 2018 the estimated Oxford county taxes on an average single family detached property valued at $257,000, is anticipated to decrease $11 from 2017.
“In 2017 the County of Oxford experienced significant growth,” explained Lynn Buchner, director of corporate services for the county. “What it means is there is more assessment to allocate the tax dollars."
At the same time the average residential property that was valued at $252,000 in 2017 is now worth $257,000, she said.
The 2.17 per cent assessment growth, which works out to be $1.3 million, is largely due to the busy residential sector, and includes new homes and home improvements.
However, the analysis in the report Oxford County councillors received Wednesday is considered only preliminary.
“We won’t know what the final levy is until council passes the budget,” Buchner said.
County council is expected to pass the $56.8 million 2018 budget, with a proposed three per cent increase over 2017, on Wednesday.
Also included in the report were a 2018 library levy of $3.6 million, a zero per cent increase over 2017, a court security grant levy of $117,255, as well as a $60.8 million capital plan, 17.1 per cent decrease from 2017.
Grants totaled $291,700 and included $55,000 to the Social Planning Council Oxford, $50,000 to Oxford Creative Connections, $25,000 to County of Oxford Youth Initiatives, $30,000 to physician recruitment, $35,000 to Oxford Connections-Economic Development and $24,500 to Immigration Oxford Sustainability.