West Central Reporter

West Central Reporter

Tuesday, February 25, 2020

Analysis: How much more will Hancock County residents pay in income taxes?

Politics

By Metric Media News Service | Feb 14, 2020

Money272

Hancock County residents will have to pay $8,691,463 more in state income taxes if Gov. J.B. Pritzker's proposed tax hike is to generate the $10.3 billion in additional tax revenue that he has promised, according to a West Central Reporter analysis of Illinois Department of Revenue data.

Pritzker claims the additional tax revenue will "eliminate the budget deficit."

The city in Hancock County that will be the most affected by Pritzker's proposal is Carthage, with residents expected to pay an additional $2,202,912 in income taxes -- approximately $1,772 per person in the labor force. Ferris will pay only $25,473 more -- approximately $520 per person in the labor force in comparison, the least among Hancock County cities.

The following table shows how other cities in Hancock County are affected.

How much more will residents from Hancock County pay on the proposal?

City
Total Expected Income Tax burden
Total Increase
Per Person Increase
Carthage
$5,621,850
$2,202,912
$1,772
Hamilton
$4,513,300
$1,768,529
$1,196
Warsaw
$2,296,616
$899,925
$1,167
La Harpe
$1,901,710
$745,182
$1,163
Dallas City
$1,866,316
$731,313
$1,466
Nauvoo
$1,789,907
$701,372
$1,434
Augusta
$997,277
$390,781
$1,602
Niota
$837,873
$328,319
--
Bowen
$737,938
$289,160
$1,572
Basco
$540,941
$211,967
$4,608
Sutter
$447,410
$175,317
--
West Point
$424,434
$166,314
$2,559
Elvaston
$140,106
$54,900
$858
Ferris
$65,008
$25,473
$520

Per person increases have been calculated using the most recent data about people in the labor force as provided by the U.S. Census Bureau's ongoing American Community Survey.

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Organizations in this Story

State of IllinoisVillage of BowenCity of WarsawVillage of BascoVillage of AugustaCity of CarthageCity of NauvooVillage of ElvastonCity of La HarpeVillage of West PointVillage of FerrisCity of Hamilton

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