Board of Finance Adds Money Back Into Budget

After listening to public comments about the budget Monday night, the Board of Finance added $50,000 back into the Board of Education budget and another $50,000 into the municipal budget. The money in the municipal budget will go toward a fourth paid position in the Oxford Ambulance Association, while the Board of Ed. has the authority to determine where to spend its money.

A Town Meeting on the budget will be held on Monday, May 6, at Quaker Farms School. During that meeting, the public will have an opportunity to make motions to cut the budget (they cannot request to put money in), and the budget will be adjourned to a referendum.

The proposed date for a referendum is Tuesday, May 14, from 6 a.m. to 8 p.m. at Quaker Farms School.

The following is a breakdown of what the budget looks like now. Below that is a look at what the tax increases based upon those numbers would look like if the budget were adopted. 

Oxford Board of Education

2012-13 Adopted Budget: $26,548,247

2013-14 Proposed Budget: $27,148,793

Proposed Increase: $600,546, or 2.26 percent

Oxford Municipal Budget

2012-13 Adopted Budget: $13,407,217

2013-14 Proposed Budget: $14,604,310

Proposed Increase: $1,197,093, or 8.93 percent

Capital and Non-Recurring

2012-13 Adopted Budget: $40,689,464

2013-14 Proposed Budget: $42,571,875

Proposed Increase: $1,882,411, or 4.63 percent

Mill Rate (Tax Rate) 

2012-13 Adopted Mill Rate: 24.1 mills

2013-14 Proposed Mill Rate: 24.95 mills

Proposed increase: .84 mills, or 3.53 percent

So...

A resident with a house assessed at $200,000 currently pays $4,820 a year in property taxes and would pay $4,990 - or $170 more - if the current budget proposal is adopted.

A resident with a house assessed at $250,000 currently pays $6,025 a year and would pay $6,237.50 - or $212.50 more - if the current budget proposal is adopted.

A resident with a house assessed at $300,000 currently pays $7,230 a year and would pay $7,485 - or $255 more - if the current budget proposal is adopted.