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Saturday, April 20, 2024

Analysis: Income tax hike will cost Douglas County residents $5.6M more this year

Atwood illinois post office

Atwood Post office, a city where residents are projected to experience a $384,093 tax increase. | Wikimedia Commons

Atwood Post office, a city where residents are projected to experience a $384,093 tax increase. | Wikimedia Commons

Douglas County residents will pay an additional $5,603,896 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 Douglas County communities will pay the most: Tuscola ($1,660,124 total/$555 per person), Arthur ($1,224,249/$568), Arcola ($1,074,007/$542) and Villa Grove ($603,355/$466). 

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
1Tuscola61953$1,660,124
2Arthur61911$1,224,249
3Arcola61910$1,074,007
4Villa Grove61956$603,355
5Atwood61913$384,093
6Newman61942$304,533
7Camargo61919$227,200
8Hindsboro61930$117,756
9Murdock61941$8,579

Total

$5,603,896

Sources: Illinois Department of Revenue; Blockshopper.com

 

Top income tax-paying communities in Douglas County

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

RankingCommunityZipAverage State Income Tax IncreaseTotal Returns filed by Zip
1Camargo61919$660344
2Newman61942$590516
3Arthur61911$5682,157
4Tuscola61953$5552,991
5Arcola61910$5421,981
6Atwood61913$517743
7Hindsboro61930$514229
8Villa Grove61956$4661,294
9Murdock61941$26033
Sources: Illinois Department of Revenue; Blockshopper.com; Illinois Senate Democrats

*Assumes tax increase will meet Senate Democrats' projections.

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