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Thursday, November 14, 2024

Analysis: Income tax hike will cost Macoupin County residents $10.9M more this year

Carlinville

The Amtrak station in Carlinville, a city in which residents are projected to experience a $1,903,207 tax increase this year. | By Adam Moss [CC BY-SA 2.0 (http://creativecommons.org/licenses/by-sa/2.0)], via Wikimedia Commons

The Amtrak station in Carlinville, a city in which residents are projected to experience a $1,903,207 tax increase this year. | By Adam Moss [CC BY-SA 2.0 (http://creativecommons.org/licenses/by-sa/2.0)], via Wikimedia Commons

Macoupin County residents will pay an additional $10,916,160 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 Macoupin County communities will pay the most: Carlinville ($1,903,207 total/$546 per person), Brighton ($1,764,846/$595), Staunton ($1,667,783/$563) and Gillespie ($943,166/$479). 

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
1Carlinville62626$1,903,207
2Brighton62012$1,764,846
3Staunton62088$1,667,783
4Gillespie62033$943,166
5Bunker Hill62014$864,918
6Virden62690$809,835
7Girard62640$751,145
8Mount Olive62069$660,936
9Shipman62685$433,370
10Benld62009$287,608
11Palmyra62674$267,457
12Modesto62667$150,398
13Chesterfield62630$111,629
14Hettick62649$105,292
15Piasa62079$79,521
16Wilsonville62093$59,288
17Nilwood62672$20,039
18Sawyerville62085$20,028
19Eagarville62023$15,693

Total

$10,916,160
Sources: Illinois Department of Revenue; Blockshopper.com

 

Top income tax-paying communities in Macoupin County

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

RankingCommunityZipAverage State Income Tax IncreaseTotal Returns filed by Zip
4Modesto62667$687219
12Brighton62012$5952,964
15Staunton62088$5632,960
9Piasa62079$552144
17Carlinville62626$5463,483
19Eagarville62023$54129
18Chesterfield62630$539207
2Hettick62649$526200
14Bunker Hill62014$5141,684
10Shipman62685$513845
1Girard62640$4881,538
7Mount Olive62069$4821,372
3Gillespie62033$4791,969
11Virden62690$4691,726
6Palmyra62674$452592
8Benld62009$393731
16Wilsonville62093$319186
13Sawyerville62085$28670
5Nilwood62672$25479
Sources: Illinois Department of Revenue; Blockshopper.com; Illinois Senate Democrats

*Assumes tax increase will meet Senate Democrats' projections.

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