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Monday, December 23, 2024

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

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Mason County residents will have to pay $7,248,493 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 Mason County that will be the most affected by Pritzker's proposal is Manito, with residents expected to pay an additional $2,122,690 in income taxes -- approximately $2,518 per person in the labor force. Forest City will pay only $179,458 more -- approximately $1,291 per person in the labor force in comparison, the least among Mason County cities.

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

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

CityTotal Expected Income Tax burdenTotal IncreasePer Person Increase
Manito$5,417,123$2,122,690$2,518
Havana$5,400,498$2,116,176$1,528
Mason City$3,521,305$1,379,817$1,249
Easton$924,463$362,249$2,352
San Jose$903,204$353,919$1,099
Bath$729,875$286,000$2,577
Kilbourne$607,260$237,954$1,619
Topeka$536,508$210,230$5,005
Forest City$457,978$179,458$1,291

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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