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Friday, April 4, 2025

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

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Benson residents will have to pay $416,514 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 Woodford County that will be the most affected by Pritzker's proposal is Metamora, with residents expected to pay an additional $10,833,628 in income taxes -- approximately $6,155 per person in the labor force. Lowpoint will pay only $390,990 more in comparison, the least among Woodford County cities.

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

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

CityTotal Expected Income Tax burdenTotal IncreasePer Person Increase
Metamora$27,647,507$10,833,628$6,155
Eureka$11,220,647$4,396,791$1,508
El Paso$7,748,193$3,036,116$2,097
Roanoke$5,075,411$1,988,791$1,918
Congerville$3,828,503$1,500,192$4,778
Minonk$3,511,425$1,375,946$1,209
Goodfield$2,832,017$1,109,721$2,163
Washburn$2,183,434$855,575$1,542
Deer Creek$1,878,176$735,960$1,826
Secor$1,583,317$620,420$3,466
Benson$1,062,947$416,514$1,640
Lowpoint$997,810$390,990--

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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