Building permits issued in Oxford increased in 2023

Published 2:08 pm Thursday, February 15, 2024

While it’s easy to see from the amount of traffic in Oxford that the city is growing in population, the number of permits issued for construction in 2023 just proves what we all know – people want to be in Oxford.

In 2022, there were 414 permits issued for residential construction permits within the city limits. In 2023, that number increased to 559.

The number of commercial construction permits also increased, from 99 in 2022 to 120 in 2023.

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The total amount of construction costs for the projects issued permits went from $159, 536, 092 to $345,861,878.

The permits themselves brought in $1.6 million in 2023 compared to $846K in 2022. Those funds come from the cost of filing for the permits.

Oxford’s City Planner Ben Requet said the number of permits issued in 2023 was back on track with pre-pandemic numbers and showed increased interest in people wanting to live and/or invest in Oxford.

Requet said the increase was likely due to several reasons including the University of Mississippi’s winning sports teams, Oxford’s A-rated school district, popular events like the Double Decker Arts Festival, the historic downtown Square and more.

Construction costs are also up which influences the value of construction costs.

While building permits have increased, so has the amount of money people are spending while in Oxford, whether they are residents or visitors.

According to the Mississippi Department of Revenue, from July 1 through Dec. 31, 2023, the sales tax generated from Oxford’s businesses is $7.2 million, up from $6.8 million during the same time frame in 2022.

Oxford’s 2% food and beverage tax is also up, from $2,324,264 in 2022 from July 1 through Dec. 31 to $2,375,264 in 2023 from the same six-month period.

The Hotel/Motel tax is up from $380,723 from July 1 through Dec. 31, 2022, to $522,958 during the same six months in 2023.