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2023 County Property Taxes Expected to Increase

Wednesday, 14 December 2022 15:31

By Brad Kraemer

The estimated increase will likely be somewhere between 3-4%.

OXFORD - Oxford residents can expect an increase to the county portion of 2023 property taxes.

A big talking point for County Council's first regular meeting was the county property taxes that will see an increase of approximately $29 for every $275,000 worth of single-family home. For example, if the home was worth $525,000, the tax increase would be around $58.

The number is subject to the outcome of the budget process, which is expected to be finalized in January, but the estimated increase equates to somewhere between 3-4%. 

Warden Marcus Ryan explains where that number comes from.

"Council has a proposed budget in front of it from staff and council can make changes to it. Then we have an estimated tax assessment increase in front of us. If you take those two things together, the proposed increase in tax percentage, and the additional growth that you that you take off of that [from more people paying taxes], we'd be looking at the range of 3-4% Oxford County portion of the property tax bill increased."

Ryan also noted that Council is actually looking at ways they can better communicate the complex nature of budgets and taxes to the county and its people. 

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