Oswego voters accept real estate transfer tax to help pay for Lake Michigan water – Shaw Local

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With the 24 precincts reported on Tuesday, the unofficial final results show voters in the Village of Oswego were in favor of a referendum allowing village officials to levy a new tax on new owners of the village.

Oswego Village Council put the referendum on the ballot Tuesday, seeking voter approval to create the real estate transfer tax.

Unofficial vote totals showed that all constituencies reported the referendum passed with 2,785 “yes” votes to 1,788 “no” votes.

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

The tax will be included in the closing costs of new home purchases. Current residents of Oswego who move within the village limits will be exempt from the tax.

Village officials plan to use tax revenue to help pay for the transfer of the village’s water supply to Lake Michigan water, as planned by the DuPage Water Commission.

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

The council reached a consensus to put the referendum to voters at a committee of the whole meeting on March 15.

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

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