Oxford County's multi-residential tax rate is in the process of dropping down from 2.74 percent to 2 percent.
OXFORD COUNTY - The multi-residential tax rate in Oxford County is on a downhill slide.
The multi-residential tax rate threshold in Ontario is now 2 percent, so Oxford now has to follow suit.
Warden David Mayberry says the county will be dropping the rate gradually over the next four years.
"We've reduced the tax from 2.7 to I think its 2.55, then it will go down to 2.4, then it will go down to 2.2-something and then eventually over the four years it will be down to 2 percent."
Mayberry explains why the multi-residential tax rate is higher than the residential rate.
"If you had a $1,000 assessment in residential you would pay an X rate, if you had $1,000 in multi residential you would pay twice the rate. It's based on the fact that more units require more county services."
By lowering the tax rate, Mayberry hopes it will encourage more multi-residential construction in Oxford in the future. Mayberry adds the need for multi-residential housing is increasing.

Blandford-Blenheim Candidate Profile - Richard Kohman
OPP Release Labour Day Results
September is Big Brothers Big Sisters Month
Suspicious Fire in Paris Under Investigation
Reuseapalooza-ha Returns to Oxford County
Toddler Found Safe After Going Missing
Tillsonburg Candidate Profile - Stephen Molnar
Safety is Paramount as School Returns
Parkinson's Walk Returns to Oxford County
Navy Vets Win Memorial Tournament
Stolen Motorcycles Recovered by Woodstock Police
Blandford-Blenheim Candidate Profile - Crystal Wymenga
Last Call for Road Safety Survey!
Possible Tornado in Tavistock
Another Supplies4Students in the Books
Ingersoll Candidate Profile - Sherry Ashby
Tree Planting Coming to Ingersoll
2026 Eli Palfreyman Memorial Tournament
Summer Storm Rolls Through Oxford
United Way Launches Workshops for Older Adults