Oneida, TN (2018-08-16) For the fifth consecutive year, Town of Oneida property owners will not see a change in their tax rate. The city council passed the town’s 2018-2019 fiscal year budget on first reading.
By a 5-0 vote Thursday night, the Oneida City Council voted to approve the municipality’s tax rate for the coming fiscal year. As adopted, the certified tax rate for the 2018-2019 fiscal year will be $1.03. The rate has remained unchanged since the state’s last property reevaluation five years ago. Town officials have been able to hold the tax rate unchanged, despite the increased costs of operating city services. While the administration has been able to maintain day-to-day operations, it hasn’t had the revenue to complete capital projects, including resurfacing city streets. With projected fund balances higher than last year, outgoing Alderman Jeff Tibbals expressed his desire to shift tax revenues toward capital projects, specifically paving. “We’ve looked for road money and we would love to (pave streets) without increasing our tax rate,” Oneida Mayor Jack E. Lay responded.
With the tax rate approved, the city council also adopted the corresponding budget for the 2018-2019 fiscal year. The budget will require a second reading, which will be held at the city council’s next meeting. Due to scheduling conflicts, the meeting has been moved to September 13, 2018.
In the last order of the business Thursday night, Alderman Jeff Tibbals, who was recently elected to the Office of County Mayor resigned. State law prohibits a County Mayor from holding any other public office for profit (pay) during his or her term of office.