Oswego voters OK real estate transfer tax to help pay for Lake Michigan water

With all 24 precincts reported Tuesday, the final unofficial results show that village of Oswego voters were in favor of a referendum authorizing village officials to impose a new tax for incoming village homeowners.

The Oswego Village Board placed the referendum on the ballot Tuesday, seeking voter approval to create the real estate transfer tax.

Unofficial vote totals showed with all precincts reporting the referendum passing with 2,785 “yes” votes to 1,788 “no” votes.

As a result, the village will levy the tax at a rate of $3 on every $1,000 of home value at the time of sale.

The tax will be included in closing costs on new-home purchases. Current Oswego residents moving within village limits will be exempt from the tax.

Village officials plan to use revenues from the tax to help pay for switching the village’s water supply to Lake Michigan water as provided by the DuPage Water Commission.

Village President Troy Parlier first proposed the tax during his annual State of the Village address Feb 14, suggesting it would provide a way to help pay for new infrastructure such as Lake Michigan water sourcing without putting the tax burden on current village residents.

The board reached consensus to place the referendum before voters during a March 15 Committee of the Whole meeting.

Parlier noted that Naperville’s real estate transfer tax is $3/$1,000 and that he would like to keep the village competitive with neighboring suburbs.