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Monday, December 23, 2024

Analysis: Income tax hike will cost Calhoun County residents $1M more this year

Hardin

Residents in Hardin, Illinois, will pay an additional $391K in additional income taxes this year. | Nyttend via Wikimedia Commons

Residents in Hardin, Illinois, will pay an additional $391K in additional income taxes this year. | Nyttend via Wikimedia Commons

Calhoun County residents will pay an additional $1,021,348 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 Calhoun County communities will pay the most: Hardin ($391,188 total/$580 per person), Golden Eagle ($164,044/$527), Brussels ($123,255/$511) and Batchtown ($119,739/$510). 

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
1Hardin62047$391,188
2Golden Eagle62036$164,044
3Brussels62013$123,255
4Batchtown62006$119,739
5Hamburg62045$100,580
6Kampsville62053$99,836
7Michael62065$13,518
8Mozier62070$9,188

Total

$1,021,348
Sources: Illinois Department of Revenue; Blockshopper.com

 

Top income tax-paying communities in Calhoun County

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

RankingCommunityZipAverage State Income Tax IncreaseTotal Returns filed by Zip
1Hardin62047$580674
2Golden Eagle62036$527311
3Brussels62013$511241
4Batchtown62006$510235
5Hamburg62045$468215
6Kampsville62053$403248
7Michael62065$36537
8Mozier62070$34027
Sources: Illinois Department of Revenue; Blockshopper.com; Illinois Senate Democrats

*Assumes tax increase will meet Senate Democrats' projections.

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