West Central Reporter

West Central Reporter

Wednesday, February 26, 2020

Analysis: How much more will Mount Sterling residents pay in income taxes?

Politics

By Metric Media News Service | Feb 12, 2020

Money 04

Mount Sterling residents will have to pay $1,851,805 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 Brown County that will be the most affected by Pritzker's proposal is Mount Sterling, with residents expected to pay an additional $1,851,805 in income taxes -- approximately $1,740 per person in the labor force. Timewell will pay only $186,137 more in comparison, the least among Brown County cities.

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

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

City
Total Expected Income Tax burden
Total Increase
Per Person Increase
Mount Sterling
$4,725,822
$1,851,805
$1,740
Versailles
$982,584
$385,024
$1,791
Timewell
$475,023
$186,137
--

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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Mt. Sterling Township

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