Oil City Council is scheduled to take its final vote Thursday (Dec. 19) on a 2014 city budget which now reportedly will contain a 1.3 mill real estate tax increase.
The change in millage would add about $13 in taxes for every $10,000 worth of assessed property value.
Council had given preliminary approval last month to a spending plan with a 1.6 mill increase, and that hike had been trimmed two weeks ago to 1.35 mills with a decision to trim the city’s operating reserve fund from $148,000 to an even $100,000. More work on the budget proposal resulted in another decrease in the projected millage boost.
Approval was also given earlier to increases that would translate to between four and twelve dollars for the city’s water and sewage rates.
Council’s meeting is scheduled to begin at 4:30 PM.