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Oxford County Council Approves New Tax Levy Installment Due Dates

Friday, 11 January 2019 12:50

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Homeowners will be billed later this year for the interim tax levy by-law.

WOODSTOCK - The new tax levy installment due dates were approved at a recent council meeting.

Oxford County Council approved the new tax levy installment due dates for homeowners during a council meeting on Wednesday. The county's budget is a part  of municipal taxes for Woodstock.

Director of Corporate Services for County of Oxford, Lynn Buchner says homeowners will be billed on different dates.

"What the municipal act allows municipalities to do is to bill out 25% of the amount required to be raised for their purposes in the prior year before March 31st, and up to 50% by the end of June."

This exercise allows the county to create some cash flow to meet their annual budget until final tax bills are added up by the municipalities in the summer.

Buchner adds this also allows municipalities to make some money to meet their annual budget.

"This is an annual exercise and this is to allow municipalities to have cash flow for operating purposes until their budgets are passed, and final levies and tax rates can be calculated."

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