The Oswego Village Board voted 4-0 in favor of passing the 2012 Tax levy for the Village of Oswego on Tuesday night.
The Village will levy the same dollar amount of $1,216,000 as they did in 2011.
According to Mark Horton, Oswego’s director of finance, the tax rate will increase by less than one cent, estimated to be at .1546, for residents. The EAV is estimated to decline by 6 percent.
Of the entire tax bill, the Village of Oswego only receives 1.5 percent, with the largest portion, 68.72 percent, going to Oswego School District 308. That means the village receives $1.50 for every $100 in taxes paid to the County.
Overall the taxpayers will be paying less tax directly to the Village.
Horton said the Village makes additional revenue on sales tax and utility tax. “The sales tax revenue is still trending upwards,” he said.
President Brian LeClercq added that the Village should not lower their rate due to pension costs. He would like to put $50,000 more toward pension costs. “The numbers don’t lie,” he said. “It’s still a serious issue getting the pension funds properly funded.”
The motion to approve the 2012 Tax Levy Ordinance passed 4-0 with Giles, Volpe, Johnson and Lawson voting yes and Sollinger and Michels absent.