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West Central Reporter

Thursday, April 18, 2024

Analysis: Income tax hike will cost Cass County residents $3M more this year

Beardstown old courthouse in color

Old Cass County Courthouse in Beardstown, Illinois, a city in which residents will pay an estimated $1.3M in additional income taxes this year.

Old Cass County Courthouse in Beardstown, Illinois, a city in which residents will pay an estimated $1.3M in additional income taxes this year.

Cass County residents will pay an additional $3,025,804 in state income taxes this year, according to an analysis by Local Government Information Services (LGIS).

LGIS combined Illinois Department of Revenue data with a forecast by Senate Democrats to estimate how much additional income tax will be paid in each Illinois zip code.

The following Cass County communities will pay the most: Beardstown ($1,353,792 total/$399 per person), Virginia ($632,567/$580), Ashland ($492,720/$555) and Arenzville ($320,427/$679). 

Retroactive to July 1, the higher rate -- now 4.95 percent, up from 3.75 percent -- will be withheld from employee paychecks over the last six months of 2017.

Before the hike, someone earning $50,000 paid $72 in state income tax per paycheck when paid twice a month. That person will now pay $95, or an additional $600 per year.

Senate Democrats estimate the tax hike will siphon $4.453 billion more this year from individual taxpayers. Businesses will pay another $1 billion.

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How much more will your community pay?

State income taxes have increased to 4.95 percent from 3.75 percent. This chart shows how much more taxpayers in your community will pay for state government.

RankingCommunityZipEstimated State Income Tax Increase
1Beardstown62618$1,353,792
2Virginia62691$632,567
3Ashland62612$492,720
4Arenzville62611$320,427
5Chandlerville62627$214,233
6Bluff Springs62622$12,065

Total

$3,025,804
Sources: Illinois Department of Revenue; Blockshopper.com

 

Top income tax-paying communities in Cass County

This chart shows the ranking of communities by highest income taxes paid in Cass County.

RankingCommunityZipAverage State Income Tax IncreaseTotal Returns filed by Zip
1Arenzville62611$679472
2Virginia62691$5801,091
3Ashland62612$555888
4Chandlerville62627$510420
5Bluff Springs62622$43128
6Beardstown62618$3993,393
Sources: Illinois Department of Revenue; Blockshopper.com; Illinois Senate Democrats

*Assumes tax increase will meet Senate Democrats' projections.

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