The Oakley City Council approved an almost 5.4% property tax revenue increase Tuesday during a truth in taxation public hearing.
For a $965,000 residence, property taxes would increase from $503.68 to $530.75, or $27.07 per year. Taxes on a $965,000 business would increase from $915.79 to $965, which is $49.21 per year.
The additional property tax revenue gives Oakley an additional $23,733 per year, or over $35,000 as new homes and buildings are built.
Councilmember Kelly Kimber said the funding generated from the tax increase will go toward infrastructure needs, like fixing roads and improving aging buildings.
“We do have an aging infrastructure. We've got things going on that need to be taken care of, and this looks to me like it's a small increase to take care of some pretty big problems,” he said.
Steve Wilmoth was the only council member to vote no on the increase.
“I agree with everybody. But you know, in the last little bit, I just feel like we've been taxed to death, and for the amount I would see, I would sooner just give everybody relief for some time,” he said.
Councilmember Tom Smart, on the other hand, said he would rather increase property taxes incrementally rather than have to increase them a lot down the road.
