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Saturday, November 23, 2024

Analysis: Income tax hike will cost Christian County residents $8.2M more this year

Taylorville

Christian County Courthouse in Taylorville, a city in which residents are projected to experience a $3,486,351 increase in taxes this year. | By Nyttend (Own work) [Public domain], via Wikimedia Commons

Christian County Courthouse in Taylorville, a city in which residents are projected to experience a $3,486,351 increase in taxes this year. | By Nyttend (Own work) [Public domain], via Wikimedia Commons

Christian County residents will pay an additional $8,197,968 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 Christian County communities will pay the most: Taylorville ($3,486,351 total/$507 per person), Pana ($1,437,691/$465), Moweaqua ($757,825/$595) and Ediburg ($492,474/$577). 

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
1Taylorville62568$3,486,351
2Pana62557$1,437,691
3Moweaqua62550$757,825
4Edinburg62531$492,474
5Morrisonville62546$418,808
6Assumption62510$401,654
7Kincaid62540$289,945
8Stonington62567$270,244
9Mount Auburn62547$258,577
10Owaneco62555$133,448
11Tovey62570$86,685
12Palmer62556$71,369
13Rosamond62083$61,651
14Bulpitt62517$31,245

Total 

$8,197,968
Sources: Illinois Department of Revenue; Blockshopper.com

 

Top income tax-paying communities in Christian County

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

RankingCommunityZipAverage State Income Tax IncreaseTotal Returns filed by Zip
1Mount Auburn62547$754343
2Moweaqua62550$5951,273
3Edinburg62531$577853
4Owaneco62555$573233
5Morrisonville62546$561746
6Assumption62510$544738
7Rosamond62083$531116
8Taylorville62568$5076,873
9Stonington62567$503537
10Pana62557$4653,095
11Palmer62556$449159
12Tovey62570$438198
13Kincaid62540$396732
14Bulpitt62517$37683
Sources: Illinois Department of Revenue; Blockshopper.com; Illinois Senate Democrats

*Assumes tax increase will meet Senate Democrats' projections.

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