Oswego property owners will see a 2% decrease in the village’s property tax rate next year, bringing the village’s tax rate to its lowest level on record.

At the Nov. 18 Oswego Village Board meeting, the majority of village trustees approved a $1.98 million tax levy, which represents a $144,201 increase in dollars and a 2% decrease in the village’s property tax rate applied to properties within the village.

The current levy is $1.8 million.

“This will result in the lowest tax rate on record,” Oswego Finance Director Andrea Lamberg told village trustees.

The newly approved property tax rate is 0.12907. The village last year had a property tax rate of 0.13171, which was previously the village’s lowest tax rate.

“It speaks to our commitment to help out the community,” Village Trustee Karin McCarthy-Lange said in talking about yet another decrease in the property tax rate.

Village Trustee Andrew Torres agreed.

“It’s great that we can do this for taxpayers,” he said. “As we grow, we provide more relief.”

According to the village’s website, the village of Oswego receives the second-smallest share of property tax of any taxing district in the village.

Of a resident’s total property tax bill in 2024, just 1.59%, or less than $0.02 of every dollar, went to the village of Oswego to provide services. In Oswego, property tax dollars cover the costs of police pensions.

Road maintenance, public safety and all other services are paid with sales taxes, fees for services and other miscellaneous revenues.