Analysis: Income tax hike will cost Adams County residents $17M more this year
Adams County residents will pay an additional $17.3 million in state income taxes this year, according to an analysis by Local Government Information Services (LGIS).
LGIS used Illinois Department of Revenue data combined with a forecast by Senate Democrats to estimate how much additional income tax will be paid in each Illinois zip code.
The following Adams County communities will pay the most: Quincy ($13.6 million total/$573 per person), Liberty ($589,493/$552), Camp Point ($534,585/$528) and Payson ($455,713/$580).
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. 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.
How much more will your community pay?
This chart shows how much more taxpayers in your community will pay for state government after the recent 32 percent increase in personal income tax.
|Ranking||Community||Zip||Estimated State Income Tax Increase|
Top income tax-paying communities in Adams County
Communities ranked by cost of income taxes in Adams County
|Ranking||Community||Zip||Average State Income Tax Increase*||Total Returns filed by Zip|
*Assumes tax increase will meet Senate Democrats' projections.
Organizations in this Story
Adams County • City of Quincy • Clayton Township • Fowler Township • Illinois Department of Revenue • Village of Camp Point • Village of Coatsburg • Village of Golden • Village of Liberty • Village of Loraine • Village of Mendon • Village of Payson • Village of Plainville • Village of Ursa