City of Oswego residents are facing the first tax increase in eight years.
After eight years with the Oswego Common Council, Mayor Robert Corradino is now on the other side of the budget process. His proposed 2025 operating budget included the first tax increase the city has seen in almost a decade. Corradino said as difficult as that is, it’s about keeping up with the times.
“I can almost sum it up in one sentence, what did you buy eight years ago that is the same cost today?” Corradino said. “Eight years ago was the last increase, so that was 2016. So 2016 to 2024, really 2025, this is the 2035 budget, again what did you by eight years ago that is the same cost?”
Corradino’s initial proposal included a 5% tax increase to make up for an about $8 million shortfall. He said rising costs in insurance, healthcare, general year-over-year costs, as well as some increases in debt services all contributed. Following council review and amendments he says it’s now looking closer to a 3.7% tax increase. While Corradino said he understands no tax increase is going to be something residents are excited about, he said they are part of creating a stable city government.
“I don’t think it’s really sustainable for any government to have no tax increase forever and I think we should be very proud of the fact that we did it for eight consecutive years,” Corradino said.
Other budget highlights include no use of fund balance and no increase in water or sewer fees for city residents. The council will vote on the budget in their next session, Aug. 26.
