Oakmont Preliminary Budget Holds Line on Taxes
Officials do not anticipate increasing the millage rate for 2013.
Before Oakmont Council approved a preliminary 2013 budget on Monday, its members had to close $58,000 deficit. Officials succeeded, passing a $3.35 million preliminary budget that holds the line on taxes and includes a $8,270 surplus. 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, due to the county reassessments, borough officials are anticipating more tax revenue in 2013. The $1.55 million of anticipated real estate tax revenue in the preliminary budget reflects a 2.5 increase from 2012, which officials are saying is a "reasonable and fairly conservative" number. Administrators …
In this Article:
