Peoria Standard

Peoria Standard

Monday, February 24, 2020

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

Politics

By Metric Media News Service | Feb 13, 2020

Money 04

Marshall County residents will have to pay $5,742,646 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 Marshall County that will be the most affected by Pritzker's proposal is Lacon, with residents expected to pay an additional $1,443,357 in income taxes -- approximately $1,613 per person in the labor force. Camp Grove will pay only $41,643 more in comparison, the least among Marshall County cities.

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

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

City
Total Expected Income Tax burden
Total Increase
Per Person Increase
Lacon
$3,683,459
$1,443,357
$1,613
Henry
$3,400,360
$1,332,425
$1,138
Sparland
$2,132,320
$835,546
$3,941
Toluca
$1,962,685
$769,075
$1,269
Wenona
$1,745,370
$683,920
$1,308
Varna
$1,476,924
$578,730
$2,679
La Rose
$147,889
$57,950
$1,114
Camp Grove
$106,273
$41,643
--

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 IllinoisCity of LaconCity of HenryVillage of SparlandCity of TolucaVillage of La RoseVillage of Varna

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