Oxford Budget Referendum Details

OXFORD, CT — Oxford residents will head to the polls on May 17 to decide whether to approve a $48.3 million spending plan, which if approved, will raise residents taxes by 3.8 percent, the Republican-American reports.

Residents were initially looking at a nearly 10 percent tax hike but local officials decided to use $3.5 million of its rainy day or contingency account in an effort to keep the tax rate more modest, the Rep-Am reports. Officials stress that the contingency account is still very healthy, which is vital for bond ratings agencies.

>>>Read More at the Rep-Am.