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East Central Reporter

Friday, April 19, 2024

Analysis: Income tax hike will cost Lawrence County residents $3M more this year

The new lawrenceville  illinoi

Lawrenceville high school, a city where residents are projected to pay an additional $1,687,623 in income taxes this year. | Wikimedia Commons

Lawrenceville high school, a city where residents are projected to pay an additional $1,687,623 in income taxes this year. | Wikimedia Commons

Lawrence County residents will pay an additional $2,997,205 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 Lawrence County communities will pay the most: Lawrenceville ($1,687,623 total/$521 per person), Bridgeport ($574,379/$465), Sumner ($484,003/$477) and Saint Francisville ($251,201/$533). 

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
1Lawrenceville62439$1,687,623
2Bridgeport62417$574,379
3Sumner62466$484,003
4Saint Francisville62460$251,201

Total

$2,997,205
Sources: Illinois Department of Revenue; Blockshopper.com

 

Top income tax-paying communities in Lawrence County

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

RankingCommunityZipAverage State Income Tax IncreaseTotal Returns filed by Zip
1Saint Francisville62460$533471
2Lawrenceville62439$5213,238
3Sumner62466$4771,015
4Bridgeport62417$4651,234
Sources: Illinois Department of Revenue; Blockshopper.com; Illinois Senate Democrats

*Assumes tax increase will meet Senate Democrats' projections.

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