Twenty-four drain covers went missing in nine days from Mendip Heights, Didcot.
Police said they were reported missing from the estate between September 24 and October 2.
Crime reduction officer Mark Bradfield suspected they may have been stolen as they could be worth up to £100 each on the scrap metal market.
But Oxfordshire County Council highways technician Paul Spicer said: "We believe these drain covers were loosened and dropped down by vandals, rather than being stolen.
"This is obviously irresponsible behaviour that increases danger to local people.
"We would urge anyone who may know of the culprits to contact the police. The cost to the taxpayer will run into hundreds of pounds, if not more".
Anyone with information should call police on 08458 505505 or Crimestoppers on 0800 555111.
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