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Peoria Standard

Friday, April 19, 2024

Analysis: Proposed K-12 budget would cost Peoria residents $213M more in income taxes

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Metro Peoria residents would pay $212,720,667 more in state income taxes if the state agrees to increase school funding by $7.2 billion, according to a Peoria Standard analysis of Illinois Department of Revenue data.

Superintendent Tony Smith called for increasing K-12 public schools funding to $50 billion next year, or $27,000 per student. Smith hasn’t said where he expects the new money to come from.

The state raised income taxes by 32 percent just six months ago, in part to fund a new school spending plan. If the superintendent's plan goes through unchanged, Dunlap residents would see the largest average increase in Metro Peoria at $2,390 per household.

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How much more will your community pay?

CityZipCurrent income taxIncome tax under proposed planIncrease by zip codeAverage household increase
Dunlap61525$29,749,500$40,303,465$10,553,965$2,390
Edwards61528$8,316,000$11,266,193$2,950,193$2,220
Congerville61729$3,120,882$4,228,050$1,107,168$2,133
Peoria61602$2,440,579$3,306,401$865,822$1,830
Brimfield61517$7,821,000$10,595,586$2,774,586$1,734
Peoria61615$55,440,000$75,107,954$19,667,954$1,730
Goodfield61742$2,313,604$3,134,381$820,777$1,613
Groveland61535$3,549,832$4,809,174$1,259,342$1,566
Metamora61548$24,403,500$33,060,912$8,657,412$1,559
Morton61550$37,174,500$50,362,566$13,188,066$1,552
Edelstein61526$2,021,023$2,738,003$716,980$1,420
Mapleton61547$6,732,000$9,120,252$2,388,252$1,387
Tremont61568$8,118,000$10,997,950$2,879,950$1,355
Peoria61614$51,480,000$69,743,101$18,263,101$1,329
Roanoke61561$4,601,082$6,233,367$1,632,285$1,282
Washington61571$38,065,500$51,569,658$13,504,158$1,258
Princeville61559$5,445,000$7,376,674$1,931,674$1,253
Trivoli61569$1,887,556$2,557,188$669,632$1,231
El Paso61738$6,484,500$8,784,948$2,300,448$1,206
Eureka61530$9,504,000$12,875,649$3,371,649$1,190
Minier61759$2,350,846$3,184,835$833,989$1,176
Peoria Heights61616$9,702,000$13,143,892$3,441,892$1,173
Mackinaw61755$6,484,500$8,784,948$2,300,448$1,163
Secor61771$1,252,566$1,696,927$444,361$1,145
Hanna City61536$4,698,908$6,365,897$1,666,989$1,143
Easton62633$923,483$1,251,098$327,615$1,138
Hopedale61747$2,112,009$2,861,267$749,258$1,135
Sparland61565$2,114,463$2,864,592$750,129$1,105
Chillicothe61523$16,038,000$21,727,658$5,689,658$1,102
Deer Creek61733$1,613,464$2,185,858$572,394$1,090
Green Valley61534$2,300,660$3,116,844$816,184$1,073
East Peoria61611$34,699,500$47,009,532$12,310,032$1,064
Armington61721$780,755$1,057,736$276,981$1,057
Elmwood61529$4,013,199$5,436,926$1,423,727$1,055
Wenona61377$1,749,912$2,370,713$620,801$1,050
Wyoming61491$2,841,703$3,849,829$1,008,126$1,032
Toluca61369$2,155,923$2,920,761$764,838$1,020
Laura61451$478,149$647,778$169,629$1,016
Table Grove61482$789,292$1,069,302$280,010$1,015
Toulon61483$2,389,716$3,237,494$847,778$1,012
Cazenovia61545$892,496$1,209,119$316,623$1,012
Bradford61421$1,673,614$2,267,348$593,734$1,010
Varna61375$1,455,031$1,971,220$516,189$1,008
Glasford61533$3,016,831$4,087,085$1,070,254$997
Benson61516$895,333$1,212,963$317,630$996
Speer61479$235,263$318,725$83,462$994
Magnolia61336$738,170$1,000,044$261,874$992
Manito61546$5,098,500$6,907,249$1,808,749$986
Minonk61760$3,209,595$4,348,235$1,138,640$978
Delavan61734$3,434,303$4,652,660$1,218,357$962
Avon61415$2,091,109$2,832,953$741,844$955
Rome61562$240,392$325,673$85,281$948
Mason City62664$3,548,999$4,808,046$1,259,047$940
Bartonville61607$13,860,000$18,776,989$4,916,989$939
Fairview61432$844,023$1,143,449$299,426$933
Lacon61540$3,413,692$4,624,737$1,211,045$920
Havana62644$5,445,000$7,376,674$1,931,674$896
Castleton61426$68,135$92,307$24,172$895
Pekin61554$46,827,000$63,439,397$16,612,397$892
Farmington61531$3,767,149$5,103,587$1,336,438$886
Lewistown61542$3,888,514$5,268,007$1,379,493$883
Henry61537$3,165,234$4,288,136$1,122,902$881
Kilbourne62655$571,529$774,286$202,757$870
Washburn61570$2,001,812$2,711,977$710,165$866
San Jose62682$947,392$1,283,489$336,097$864
Peoria61606$4,851,411$6,572,503$1,721,092$845
Dunfermline61524$280,972$380,650$99,678$845
Fiatt61433$82,970$112,404$29,434$841
Canton61520$15,790,500$21,392,355$5,601,855$833
Topeka61567$599,061$811,585$212,524$817
Cuba61427$2,262,222$3,064,771$802,549$811
Bath62617$676,695$916,760$240,065$811
London Mills61544$745,812$1,010,396$264,584$809
Ipava61441$889,911$1,205,617$315,706$803
Ellisville61431$342,892$464,537$121,645$800
Vermont61484$833,901$1,129,737$295,836$795
Smithfield61477$586,798$794,971$208,173$777
Astoria61501$1,672,142$2,265,353$593,211$754
Liverpool61543$129,522$175,471$45,949$753
Peoria61604$27,274,500$36,950,431$9,675,931$745
Mossville61552$229,947$311,523$81,576$742
Forest City61532$443,950$601,446$157,496$739
Camp Grove61424$85,308$115,572$30,264$738
St David61563$479,084$649,045$169,961$702
South Pekin61564$821,927$1,113,514$291,587$689
Bryant61519$172,201$233,291$61,090$686
Norris61553$170,899$231,528$60,629$681
La Rose61541$121,127$164,099$42,972$651
Creve Coeur61610$4,278,446$5,796,272$1,517,826$637
Kingston Mines61539$171,277$232,039$60,762$633
Peoria61603$10,345,500$14,015,681$3,670,181$569
Peoria61605$5,791,500$7,846,099$2,054,599$412

Total$212,720,667

Sources: Illinois Department of Revenue; Blockshopper.com; Illinois State Board of Education

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