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Friday, April 19, 2024

Analysis: Income tax hike will cost Greene County residents $2.6M more this year

Greenfield

Greenfield Illinois, a city in which residents are projected to experience a $450,198 increase in taxes this year. | Paul Sableman via Wikimedia Commons

Greenfield Illinois, a city in which residents are projected to experience a $450,198 increase in taxes this year. | Paul Sableman via Wikimedia Commons

Greene County residents will pay an additional $2,575,688 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 Greene County communities will pay the most: Carrollton ($828,166 total/$477 per person), White Hall ($454,980/$402), Greenfield ($450,198/$526) and Roodhouse ($449,205/$413). 

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
1Carrollton62016$828,166
2White Hall62092$454,980
3Greenfield62044$450,198
4Roodhouse62082$449,205
5Kane62054$130,827
6Eldred62027$89,710
7Rockbridge62081$85,413
8Hillview62050$67,063
9Patterson62078$11,266
10Wrights62098$8,859

Total

$2,575,688
Sources: Illinois Department of Revenue; Blockshopper.com

 

Top income tax-paying communities in Greene County

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

RankingCommunityZipAverage State Income Tax IncreaseTotal Returns filed by Zip
1Rockbridge62081$652131
2Greenfield62044$526856
3Carrollton62016$4771,735
4Wrights62098$42221
5Roodhouse62082$4131,087
6Eldred62027$410219
7White Hall62092$4021,133
8Kane62054$395331
9Patterson62078$37630
10Hillview62050$364184
Sources: Illinois Department of Revenue; Blockshopper.com; Illinois Senate Democrats

*Assumes tax increase will meet Senate Democrats' projections.

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