Oswego Residents Will See Lowest Property Tax Rate Since 2009: Village

OSWEGO, IL — Oswego residents will see a 3 percent decrease in their property taxes in upcoming tax bills — the largest decrease since 2015.

The Village Board approved a tax levy of $1,716,117, or a rate of 0.1425. The new rate is the lowest since 2009, officials said. Comparatively, the rate decrease in 2015 was 4.6 percent.

The overall equalized assessed value, or the total value of properties within Oswego, increased by about 6.91 percent over the previous year, officials said, citing new development as one of the reasons why. As an example staff, said a home valued at $281,900 this year would have been valued at $263,680 last year.

"We are in a great financial position to reduce the Village’s property tax rate," Village President Ryan Kauffman said. "We know that property taxes across all Oswego's units of government are a burden for our residents. The Village Board wants to take whatever steps we can to reduce that burden."

Property taxes are among the revenue sources that support Oswego's operations. Officials said they continue to prioritize capital investment, including water infrastructure, road maintenance and improvements, and investment in the village's police pension fund.

Officials provided a breakdown of how property taxes are dispersed. The village receives the second-smallest share of property tax of any taxing district in town.

• Oswego Community Unit School District 308: 67.84 percent
• Oswego Fire Protection District: 7.42 percent
• Kendall County: 6.54 percent
• Waubonsee Community College: 5.14 percent
• Oswegoland Park District: 4.63 percent
• Oswego Public Library District: 2.81 percent
• Oswego Township Road District: 1.66 percent
• Kendall County Forest Preserve District: 1.63 percent
• Village of Oswego: 1.63 percent
• Oswego Township: 0.70 percent