Do you live in a historic home in Oswego that might need some touch-ups or repairs? You'll want to hear this.
The Village of Oswego has shown support for the Illinois Property Tax Assessment Freeze Program, which would allow those who own and live in a historic home and want to make substantial renovations to their them to have an eight-year assessment freeze on their property.
Rod Zenner, Oswego's community development director, said qualifying homes would have an eight-year freeze followed by a four-year plan to slowly bring the taxes back up.
The program considers qualifying homes to be homeowners in historic homes or historic districts. Oswego currently only has two landmarked homes which would qualify.
However, there are about 60 homes in Oswego that could be potentially named as landmarks, said Donna Stanley, a member of the Oswego Historic Preservation Commission.
To do so the mayor, Village President Brian LeClercq, would need to send a letter to the state to support the program.
“It really frees up a little capital for folks to make improvements on their structure. I think that’s the need,” said LeClercq.
Karen Knight, a chairperson for the Oswego Historic Preservation Commission, added that many historic restoration programs normally focus on businesses. “There’s really nothing out there for the private homeowner. This will really encourage people to restore homes.”
She said Plainfield and Aurora have both used the program to fix up private homes by land marking them.
Trustee Gail Johnson commented that she was very happy the program would be homeowner driven. “It requires that the homeowner puts substantial investment into the project.”
All of the trustees supported the project and were in favor of LeClercq sending a letter to the state.