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Sunday, November 17, 2024

Springfield responsible for 2nd-highest sales tax revenue in Illinois during July

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Director David Harris | Illinois Department of Revenue

Director David Harris | Illinois Department of Revenue

Springfield taxpayers paid the second largest sum in sales taxes per municipality in July, according to Illinois tax records.

In total, Springfield residents paid $8.2 million in sales taxes during July.

Springfield also ranked second in the Prairie State the month before, with $8.2 million spent in sales taxes.

The Municipal Home Rule Sales Tax accounted for the largest share of sales taxes paid by Springfield residents in July.

In Illinois, the Municipal Home Rule Sales Tax applies to a broad range of general merchandise. It operates similar to the state sales tax, but excludes certain items like vehicles and specific foods, drugs, and medical appliances that require state agency titling or registration. While this tax can be set in small increments with no maximum limit, it's important to note that not all municipalities choose to implement it. The revenue generated is destined to local services and infrastructure needs.

As of 2021, Illinois was the highest taxed state in the US. A study from Wallet Hub found Illinois taxes were 39.83% higher than the national average.

Illinois governor J. B. Pritzker is accused of adding more than $5.2 billion in new or higher taxes since coming into power in early 2019. As a business owner, he has a fortune of more than $3 billion, largely based on his family's wealth and connections.

Composition of Sales Tax Revenue in Springfield in July
Municipal Home Rule Sales Tax [60.7%]Municipal Sales Tax [38.5%]Business District Tax [0.7%]Municipal Automobile Renting Tax [0.1%]

Sales Taxes Collected in Springfield in July
Type of TaxAmount Collected in Month% Change From Previous Month
Municipal Home Rule Sales Tax$4,953,330-0.2
Municipal Sales Tax$3,140,151-1
Business District Tax$59,50521.9
Municipal Automobile Renting Tax$9,893-4

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