Oxford Township officials last week approved budgets totalling $8,350,131 and property tax rates totalling 9.0009 mills for the upcoming 2005 fiscal year.
For the 11th consecutive year, the township will levy 0.95 mill to support its General Fund Operating Budget, which was approved at $1,927,310 for next year. (See shaded box for a breakdown of the General Fund).
The operating millage rate is paid by all township property owners, including those residing in the village. One mill is equal to $1 for every $1,000 of a property’s taxable value.
A $1,920,632 budget was approved to support the township’s police services contract with the Oakland County Sheriff’s Department.
Unincorporated township property owners ? those living outside the village ? will be assessed 2.9623 mills for police services.
The township’s fire budget was approved at $763,050 and will be supported by a 1.3043 mill levy on unincorporated township property owners only.
The village government assesses its own separate fire millage over its property owners.
A $1,148,700 budget to be supported by a 0.8653-mill levy was approved for the township’s Parks and Recreation Department.
The Oxford Public Library’s 2005 budget was approved at $1,120,052 with a supporting propety tax levy of 1.417 mill.
Also approved by township officials were eight individual budgets, which consist of monies set aside for specific purposes. Those funds include:
n Road Fund ? $25,100
n Police Fund (for on-going financial obligations associated with the now-defunct joint township/village department such as retirement and medical benefits) ? $61,302.
n Cemetery Maintenance Fund ? $61,141
n Police Narcotics Fund ? $4,710
n Building Permit Fund ? $375,780
n Building and Site Fund ? $879,774
n Safety Path Fund ? $48,288
n Telecommunication Fund ? $14,292
Two bond debt millage rates were also approved by the township board.
To finance the library bond debt, a rate of 0.4620 mill was set.
The consistent influx of new taxpayers to the growing township has allowed the bond’s millage rate to decrease steadily since 1996 when it was first levied at 0.84 mill.
A rate of 1.040 mill was approved to finance the fire bond debt. Again, the township’s consistent growth has allowed the fire bond’s millage rate to decrease steadily since it was first levied at 1.36 mill in 2000.
Of the total 9.0009-mill rate approved by officials, 4.7343 mills will be levied against all township properties (including those in the village). That figure includes the township, library and parks and recreation operating rates, plus the fire and library bond debt rates.
The remaining 4.2666 mills for police and fire services are paid only by unincorporated township property owners.