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Saturday, March 28, 2020

Analysis: How much more will Menard County residents pay in income taxes?

Politics

By Metric Media News Service | Feb 13, 2020

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Menard County residents will have to pay $7,399,627 more in state income taxes if Gov. J.B. Pritzker's proposed tax hike is to generate the $10.3 billion in additional tax revenue that he has promised, according to a Sangamon Sun analysis of Illinois Department of Revenue data.

Pritzker claims the additional tax revenue will "eliminate the budget deficit."

The city in Menard County that will be the most affected by Pritzker's proposal is Petersburg, with residents expected to pay an additional $3,753,424 in income taxes -- approximately $3,102 per person in the labor force. Oakford will pay only $268,188 more -- approximately $1,474 per person in the labor force in comparison, the least among Menard County cities.

The following table shows how other cities in Menard County are affected.

How much more will residents from Menard County pay on the proposal?

City
Total Expected Income Tax burden
Total Increase
Per Person Increase
Petersburg
$9,578,769
$3,753,424
$3,102
Athens
$5,874,784
$2,302,024
$2,162
Greenview
$1,832,082
$717,898
$1,480
Tallula
$913,856
$358,093
$1,492
Oakford
$684,418
$268,188
$1,474

Per person increases have been calculated using the most recent data about people in the labor force as provided by the U.S. Census Bureau's ongoing American Community Survey.

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Organizations in this Story

City of AthensVillage of OakfordCity of PetersburgVillage of GreenviewVillage of Tallula

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