Oswego trustees Tuesday night unanimously approved new motor fuel and food and beverage taxes.
Trustees said they approved the 4-cent per gallon motor fuel tax and 1 percent tax on sales of food and beverages prepared for immediate consumption in an effort to stabilize the budget and generate revenue for road improvements and other projects.
“One of the things I struggled with as I looked at this,” Village President Gail Johnson told the audience, was to apply her own business of more than 20 years to the same conditions without raising revenues. “If we put those same principles to play, if revenues don’t increase eventually you’ll be out of business or at least on that downward slide. We want to see Oswego grow and not die.”
The motor fuel tax will generate approximately $600,000 a year, which village officials said would be used for road improvements and maintenance. The food and beverage tax would bring in an estimated $500,000 a year, with the money pegged to support general operating costs and capital improvement projects.