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Peoria Standard

Monday, February 24, 2020

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

Politics

By Metric Media News Service | Feb 13, 2020

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Knox County residents will have to pay $22,534,221 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 Knox County that will be the most affected by Pritzker's proposal is Galesburg, with residents expected to pay an additional $13,190,137 in income taxes -- approximately $1,003 per person in the labor force. Henderson will pay only $102,546 more -- approximately $950 per person in the labor force in comparison, the least among Knox County cities.

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

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

City
Total Expected Income Tax burden
Total Increase
Per Person Increase
Galesburg
$33,661,338
$13,190,137
$1,003
Knoxville
$5,268,177
$2,064,326
$1,455
Abingdon
$3,972,180
$1,556,492
$1,061
Dahinda
$2,262,103
$886,401
--
Wataga
$1,465,021
$574,066
$1,428
Oneida
$1,453,456
$569,534
$1,600
Gilson
$1,278,975
$501,164
$5,012
Williamsfield
$1,277,783
$500,697
$2,011
Yates City
$1,256,560
$492,381
$1,299
Altona
$1,173,436
$459,809
$1,716
East Galesburg
$1,150,542
$450,838
$1,165
Maquon
$955,844
$374,546
$2,401
Rio
$907,706
$355,683
$3,420
Victoria
$807,759
$316,519
$2,110
Saint Augustine
$354,936
$139,081
--
Henderson
$261,699
$102,546
$950

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 KnoxvilleVillage of WilliamsfieldVillage of East GalesburgVillage of MaquonCity of AbingdonVillage of WatagaCity of GalesburgVillage of Yates CityVillage of VictoriaVillage of HendersonVillage of RioCity of OneidaVillage of AltonaGilson

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