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East Central Reporter

Friday, April 19, 2024

Analysis: Income tax hike will cost Edgar County residents $3.7M more this year

Edgar county courthouse from s 1

Edgar County Courthouse in Paris, a city where residents are projected to experience a $2,587,008 tax increase. | Wikimedia Commons

Edgar County Courthouse in Paris, a city where residents are projected to experience a $2,587,008 tax increase. | Wikimedia Commons

Edgar County residents will pay an additional $3,739,382 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 Edgar County communities will pay the most: Paris ($2,587,008 total/$480 per person), Chrisman ($537,915/$553), Kansas ($241,428/$533) and Brocton ($160,284/$624). 

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. 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
1Paris61944$2,587,008
2Chrisman61924$537,915
3Kansas61933$241,428
4Brocton61917$160,284
5Hume61932$112,884
6Metcalf61940$39,907
7Redmon61949$30,911
8Vermilion61955$29,043

Total

$3,739,382

Sources: Illinois Department of Revenue; Blockshopper.com

 

Top income tax-paying communities in Edgar County

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

RankingCommunityZipAverage State Income Tax IncreaseTotal Returns filed by Zip
1Brocton61917$624257
2Hume61932$573197
3Chrisman61924$553973
4Kansas61933$533453
5Paris61944$4805,390
6Metcalf61940$44390
7Redmon61949$43571
8Vermilion61955$34285
Sources: Illinois Department of Revenue; Blockshopper.com; Illinois Senate Democrats

*Assumes tax increase will meet Senate Democrats' projections.

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