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Thursday, November 21, 2024

Sangamon County taxpayers would pay an extra $47M if Democrats’ tax hike becomes law

Cullerton

Sangamon County taxpayers would see a total of $47 million in state income tax increases if a tax hike measure passed by the Democrat-controlled Illinois State Senate becomes law.

Sangamon County communities that would see the largest collective increases include West Central Springfield/Leland Grove ($14.3 million), North Central Springfield ($6.2 million), Chatham ($5.2 million) and Southeast Springfield ($4.3 million). 

Taxpayers from Rochester ($879), Chatham ($816), Cantrall ($811), Sherman ($792) and West Central Springfield/Leland Grove ($725) would see the highest average increases.

Led by Senate President John Cullerton (D-Chicago), Democrats passed the individual income tax hike last week-- from 3.75 percent to 4.95 percent-- along with a broader set of tax increases on businesses.

If their projections prove correct, individual Illinois taxpayers will send an additional $4.453 billion to Springfield each year as a result of the higher rates. Businesses will pay another $1 billon.

LGIS looked at 2014 income taxes paid by zip code to create a ranking of the highest-paying Sangamon County communities.

Its analysis looked at the percentage of total state income taxes paid by zip code, as reported by the Illinois Department of Revenue. It then applied that percentage to the amount Senate Democrats expect their tax hike will raise to calculate an average increase.

The analysis used 2014 tax return data, which is the latest available and also represents a year in which state income taxes were higher-- five percent, or approximately the level to which the Democrats are hoping to raise them.

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Top income tax-paying communities in Sangamon County

Which communities pay the highest income taxes in Sangamon County?

RankingCommunitiesZipAverage State Income Tax IncreaseTotal Returns filed by Zip
1Rochester62563$8792,779
2Chatham62629$8166,358
3Cantrall62625$811452
4Sherman62684$7922,448
5Springfield (West Central) / Leland Grove62704$72519,740
6Pleasant Plains62677$7241,313
7Williamsville62693$689849
8New Berlin62670$6861,495
9Buffalo62515$651404
10Pawnee62558$6281,682
11Springfield (North)62707$6133,630
12Dawson62520$599719
13Mechanicsburg62545$588597
14Divernon62530$584738
15Auburn62615$5772,532
16Loami62661$568574
17Illiopolis62539$560601
18Riverton62561$5232,403
19Spaulding62561$5232,403
20Thayer62689$398270
21Springfield (North Central)62702$39315,820
22Springfield (Southeast)62703$34712,368

Source: Illinois Department of Revenue; Blockshopper.com

How much more will your community pay?

If state income taxes are increased to 4.95 percent from 3.75 percent, how much more will taxpayers in your community pay for state government?

RankingCommunitiesZipEstimated State Income Tax Increase
1Springfield (West Central) / Leland Grove62704$14,313,961
2Springfield (North Central)62702$6,216,088
3Chatham62629$5,191,010
4Springfield (Southeast)62703$4,287,065
5Rochester62563$2,443,713
6Springfield (North)62707$2,226,325
7Sherman62684$1,937,661
8Auburn62615$1,461,412
9Riverton62561$1,257,314
10Spaulding62561$1,257,314
11Pawnee62558$1,055,668
12New Berlin62670$1,025,362
13Pleasant Plains62677$950,221
14Williamsville62693$584,825
15Divernon62530$431,294
16Dawson62520$430,589
17Cantrall62625$366,381
18Mechanicsburg62545$351,133
19Illiopolis62539$336,320
20Loami62661$325,961
21Buffalo62515$262,926
22Thayer62689$107,371

TOTAL

$46,819,914

Sources: Illinois Department of Revenue; Blockshopper.com; Illinois Senate Democrats

*Assumes tax increase will meet Senate Democrats' projections.

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