Town of Oakland Passes Ordinance to Provide $10,000 Exemption on Business Personal Property Tax

The Mayor and Town Council of the Town of Oakland have passed an ordinance establishing a $10,000 exemption on the assessed value of business personal property for tax purposes, effective July 1, 2025, and for all periods thereafter unless repealed.

The ordinance was formally introduced at the April 7, 2025, council meeting and reflects the Town’s continued commitment to supporting local businesses and promoting economic vitality within the community.

Following a detailed review of the proposed Fiscal Year 2025-26 budget, the Mayor and Council determined that the Town’s financial position is strong enough to support this tax relief initiative. As a result, businesses operating in Oakland will benefit from a 100% exemption on the first $10,000 of assessed value for personal property, such as equipment, furnishings, and other tangible business assets.

“This exemption reduces the tax burden for all businesses operating in Oakland and strategically delivers targeted relief to our smallest businesses. About 90 businesses will no longer receive a personal property bill at all. It reflects the town government's commitment to supporting small business growth, attracting new enterprises, and fostering sustainable long-term economic development in Oakland. We are proud to be able provide this meaningful relief while maintaining a balanced and responsible budget.” said Mayor Sauder.

It is important to note that the exemption applies only to commercial and business entities. Public utilities and railroads will continue to be taxed on all personal property, without exemption.

The ordinance takes effect July 1, 2025, and will remain in force for subsequent tax periods unless specifically repealed by future council action.