Oakmont 2013 Budget Holds Line on Taxes
Oakmont officials expect to end the year with a surplus.
Oakmont residents will not experience a real estate tax increase in 2013.
During a special meeting Thursday, Oakmont Council approved a $3.66 million budget that holds the real estate tax rate steady.
The current millage rate in Oakmont is 4.5 mills—a resident pays $450 in real estate taxes for every $100,000 of assessed property value. It's been about four years since the millage rate increased.
However, officials anticipate that they might have to reopen the budget in January.
Earlier this month, Allegheny County Judge R. Stanton Wettick Jr. signed and issued an official court order extending the Dec. 31 deadline to Jan. 31 for taxing bodies to adopt 2013 budgets and set millage rates due to the new county reassessments.
Many boroughs and cities—Oakmont included—have yet to receive certified county assessment figures, making it difficult for officials to estimate the amount of real estate tax revenue to be received in 2013.
Councilwoman Nancy Ride said she anticipates the borough will end the year with a surplus close to $300,000—the borough received more money in Earned Income Tax collection due to recent changes in the tax's withholding.
When officials open the budget again in January, Ride said they could discuss what, if anything, they want to do with that money.
To view the budget, visit the borough website. It is posted on the lefthand side of the homepage.