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East Central Reporter

Monday, December 23, 2024

Analysis: Income tax hike will cost Clark County residents nearly $4M more this year

Marshallil

Taxpayers in Marshall will pay an estimated $1.7M in additional income taxes this year. | Judson McCranie via Wikimedia Commons

Taxpayers in Marshall will pay an estimated $1.7M in additional income taxes this year. | Judson McCranie via Wikimedia Commons

Clark County residents will pay an additional $3.82 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 Clark County communities will pay the most: Marshall ($1.76 million total/$542 per person), Casey ($1 million/$510), Martinsville ($507,578/$476) and Dennison ($195,537/$$656). 

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
1Marshall62441$1,764,385
2Casey62420$1,006,808
3Martinsville62442$507,578
4West Union62477$190,556
5Dennison62423$195,537
6Westfield62474$159,314

TOTAL

$3,824,179
Sources: Illinois Department of Revenue; Blockshopper.com

 

Top income tax-paying communities in Clark County

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

RankingCommunityZipAverage State Income Tax Increase*Total Returns filed by Zip
1Dennison62423$656298
2Marshall62441$5423,258
3Casey62420$5101,976
4West Union62477$487391
5Martinsville62442$4761,066
6Westfield62474$464343
Sources: Illinois Department of Revenue; Blockshopper.com; Illinois Senate Democrats

*Assumes tax increase will meet Senate Democrats' projections.

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