The current sales tax rate in Stillwater is 8.813%. The state of Oklahoma keeps 4.5%, the County gets 0.813% and the City of Stillwater gets 3.5%. Of that 3.5%, 1.5% is restricted to utilities and transportation and the City’s operating budget (General Fund) keeps 2%, or about $16 million. 

The City of Stillwater has $1.1 million of debt (General Obligation Bond) remaining from 2000 which will be paid in full in June 2021. The City of Stillwater can only raise tax rates or borrow bond money with a majority public vote.

Prior to reading this, what best describes what you already knew about City finances? (Choose all that apply)

The City of Stillwater has identified about an $85 million backlog of infrastructure projects: $60 million in road repairs and improvements, $15 million in stormwater improvements, a $5 million fire station, and a $5 million animal welfare building.

These projects could be paid for with a sales tax increase, a new bond (debt) or a combination or both. If they were to be funded, what would be your preference for the mix of funding?

Would you say you receive enough information about the City's finances?

Any other comments or suggestions about the City’s finances?