The $218 million budget includes a real property tax levy of $44,709,272, a reduction of nearly 2% from the current budget year. The full valuation of the county increased by more than $345 million, from $6,089,431,969 to $6,437,196,662, creating a generic property tax rate of $6.95 per $1,000 of assessed value.
The 7% reduction follows a nearly 2.7% reduction in the rate in the 2021 budget, bringing the property tax rate down roughly 10% in a two-year span and creating the lowest county tax rate in a decade.
Owners of a property valued at $100,000 will pay roughly $695 in county property taxes in the coming year, representing a savings of more than $50 from the current year and $75 from the previous year.
“The 2022 budget lowers costs for county property owners while continuing to fund all the services residents have come to expect,” said Oswego County Legislature Chairman James Weatherup. “Reducing the tax burden for our residents remains one of the legislature’s top priorities and this tax rate cut marks the third year in a row property tax rates will be lowered, a testament to the hard work of our county workforce, department heads and legislators.”