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Tax Hike Expected in 2024

Friday, 15 December 2023 05:57

By Marcie Culbert @marcieculbert

The average homeowner in Oxford County will be spending an extra $154 on the County's portion of their property taxes in 2024.

OXFORD COUNTY - We now know how the tax levy increase will affect Oxford County homeowners.

According to County officials, the average homeowner will pay an extra $154 on the county's portion of their property taxes next year. That's based on the current MPAC assessment for a single detached home in Oxford.

Oxford County Council approved an $82.6 million general tax levy for 2024 on Wednesday. This is a 16.7 percent increase compared to 2023, which works out to another $11.8 million. Officials say $7.7 million of that is due to a higher demand for municipal services because of population growth.

In an interview with Heart FM yesterday, Warden Marcus Ryan said the only thing worse than a 16.7 percent tax levy increase, would be a reduction of services for Oxford County residents.

County Council also signed off on a $349.5 million Business Plan and Budget for 2024 on Wednesday. When you break it down, $245.9 million is in the operating budget and the capital plan consists of $103.6 million.

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