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Sunday, March 29, 2020

Analysis: How much more will Tazewell County residents pay in income taxes?

Politics

By Metric Media News Service | Feb 15, 2020

Money041

Tazewell County residents will have to pay $82,938,225 more in state income taxes if Gov. J.B. Pritzker's proposed tax hike is to generate the $10.3 billion in additional tax revenue that he has promised, according to a Peoria Standard analysis of Illinois Department of Revenue data.

Pritzker claims the additional tax revenue will "eliminate the budget deficit."

The city in Tazewell County that will be the most affected by Pritzker's proposal is Pekin, with residents expected to pay an additional $18,992,850 in income taxes -- approximately $1,168 per person in the labor force. Armington will pay only $301,272 more -- approximately $1,620 per person in the labor force in comparison, the least among Tazewell County cities.

The following table shows how other cities in Tazewell County are affected.

How much more will residents from Tazewell County pay on the proposal?

City
Total Expected Income Tax burden
Total Increase
Per Person Increase
Pekin
$48,469,908
$18,992,850
$1,168
Washington
$44,789,665
$17,550,753
$2,180
Morton
$44,272,656
$17,348,164
$2,102
East Peoria
$36,098,138
$14,144,993
$1,149
Tremont
$9,029,041
$3,538,014
$3,821
Mackinaw
$8,392,756
$3,288,687
$3,144
Creve Coeur
$4,449,286
$1,743,445
$591
Groveland
$3,822,656
$1,497,901
--
Delavan
$3,611,003
$1,414,965
$1,812
Green Valley
$2,396,608
$939,107
$2,545
Hopedale
$2,386,108
$934,992
$2,487
Minier
$2,246,647
$880,345
$1,324
South Pekin
$925,708
$362,737
$629
Armington
$768,849
$301,272
$1,620

Per person increases have been calculated using the most recent data about people in the labor force as provided by the U.S. Census Bureau's ongoing American Community Survey.

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Organizations in this Story

State of IllinoisVillage of MinierVillage of MortonVillage of MackinawCity of East PeoriaVillage of ArmingtonVillage of Green ValleyVillage of South PekinVillage of TremontCity of DelavanVillage of HopedaleCreve Coeur Village

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