Thieves stole a bronze plaque from the base of the King Alfred statue, in the Market Place, over the Bank Holiday weekend and councillors say this is just the latest in a spate of crimes.
Jenny Hannaby, chairman of the council's environmental committee, said it was concerned enough to want to go to the highest level to draw attention to the issue.
She added: "We are worried that if we don't face our problem now people will feel they can get away with it."
Julia Reynolds, mayor of Wantage, urged anyone with information about the plaque to come forward, and reminded people the council offers a £200 reward for information leading to the conviction of anyone involved in vandalism of public facilities or property.
Last year, £1,500 was spent cleaning the marble figure of King Alfred and Mrs Hannaby said replacing the plaque would be a waste of taxpayers' money.
Earlier this year police appealed for information after at least 10 incidents of damage to walls in the town. Vandals have also damaged cars and broken street furniture.
Mrs Hannaby urged residents to report problems and pass information to the police.
Councillors are also writing to Insp Terry Hinchly, of Wantage police. He said he would look at the figures but did not think the town had a particular problem.
Insp Hinchly said: "I'm aware of the plaque and of the issues relating to a few licensed premises. Other than that I'm not aware there is a particular problem in Wantage with vandalism over and above problems elsewhere.
"If it is a problem for the council I need to be made aware of it. I'm happy to look at the scope of the problem and then see the best way to tackle it, working in partnership with the council."
Anyone with information about the plaque can call police on 08458 505505 or Crimestoppers anonymously on 0800 555111.
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