Oswego board adopts 2025 property tax levy, five‑year CIP and 2026 budget

The Village of Oswego Board of Trustees on Nov. 18 adopted an ordinance levying property taxes for the 2025 tax year, approved a multi‑year capital improvement plan and adopted the village-wide spending authority for fiscal 2026.

The board approved a proposed 2025 levy of $1,989,240 — an increase in levy dollars of $144,201 from the current levy of $1,845,047 — while staff said the levy rate is calculated using an estimated equalized assessed value (EAV) that grew just over 10% and that the village's tax rate would decrease by about 2%, remaining the lowest on record for the village. "The full property tax levy does go to the police pension," finance staff Andrea said during the public hearing, describing the EAV update and the proposed levy figures.

Trustees emphasized the distinction between levy dollars and the tax rate. "So there is a tax decrease, property tax decrease for us, we go residents despite the EAV increasing," Trustee Koenig said, highlighting that residents should see a lower village tax rate even as assessed values rose.

The levy ordinance was moved, seconded and approved by roll call. The board recorded a roll-call vote on the ordinance adopting the 2025 levy that showed the ordinance carried (majority approved; one trustee voted no).

At the same meeting the board adopted the capital improvement plan for fiscal years 2026–2045. Staff described the plan as identifying approximately $244,800,000 in capital improvements over the next five years; staff noted several revisions since the budget workshop that had been discussed at earlier meetings. The ordinance adopting the CIP was moved, seconded and approved by roll call.

During the public hearing on the draft 2026 village budget, staff outlined that the 2026 spending authority encompasses both operating and capital funds and anticipates total spending across all funds of $174,600,000. After discussion, the board moved to adopt the ordinance approving the 2026 budget as spending authority; the motion passed on a roll-call vote.

The board also approved routine financial items: the consent agenda (which included several ordinances and resolutions such as tax-levy abatement ordinances tied to bond series, a phase‑3 engineering observation services contract for Wolf's Crossing and Douglas Road in the amount of $1,278,209, a surety reduction for Hudson Crossing, professional services agreements for water and wastewater engineering, a farm contract with Creekside Farms LLC, and authorization to accept a 0.1556‑acre donation at 76 Van Buren Street) and the bill list dated Nov. 18, 2025, in the amount of $1,541,633.66. Motions to approve those items were moved and seconded and approved by roll call.

What happens next: ordinances adopted at the meeting become part of the village record and staff will proceed with implementation steps tied to each ordinance or contract as permitted under village procedures. The board adjourned after the actions were completed.