Quantcast

Peoria Standard

Tuesday, April 23, 2024

Analysis: Income tax hike will cost Schuyler County residents $1.5M more this year

Rushville

Phoenix Opera House Block in Rushville, a city in which residents are projected to pay an additional $1,172,244 in taxes this year. | Nyttend via Wikimedia Commons

Phoenix Opera House Block in Rushville, a city in which residents are projected to pay an additional $1,172,244 in taxes this year. | Nyttend via Wikimedia Commons

Schuyler County residents will pay an additional $1,477,132 in state income taxes this year, according to an analysis by Local Government Information Services (LGIS).

LGIS combined Illinois Department of Revenue data with a forecast by Senate Democrats to estimate how much additional income tax will be paid in each Illinois zip code.

The following Schuyler County communities will pay the most: Rushville ($1,172,244 total/$508 per person), Browning ($103,044/$440), Frederick ($72,620/$567) and Littleton ($50,746/$445). 

Retroactive to July 1, the higher rate -- now 4.95 percent, up from 3.75 percent -- will be withheld from employee paychecks over the last six months of 2017.

Before the hike, someone earning $50,000 paid $72 in state income tax per paycheck when paid twice a month. That person will now pay $95, or an additional $600 per year.

Senate Democrats estimate the tax hike will siphon $4.453 billion more this year from individual taxpayers. Businesses will pay another $1 billion.

---

How much more will your community pay?

State income taxes have increased to 4.95 percent from 3.75 percent. This chart shows how much more taxpayers in your community will pay for state government.

RankingCommunityZipEstimated State Income Tax Increase
1Rushville62681$1,172,244
2Browning62624$103,044
3Frederick62639$72,620
4Littleton61452$50,746
5Camden62319$42,032
6Huntsville62344$36,445

Total

$1,477,132
Sources: Illinois Department of Revenue; Blockshopper.com

 

Top income tax-paying communities in Schuyler County

This chart shows the ranking of communities by highest income taxes paid in Schuyler County.

RankingCommunityZipAverage State Income Tax IncreaseTotal Returns filed by Zip
1Frederick62639$567128
2Rushville62681$5082,309
3Camden62319$48986
4Littleton61452$445114
5Huntsville62344$44482
6Browning62624$440234
Sources: Illinois Department of Revenue; Blockshopper.com; Illinois Senate Democrats

*Assumes tax increase will meet Senate Democrats' projections.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS