Quantcast

Sangamon Sun

Friday, November 22, 2024

Springfield residents paid 2nd-largest sum in sales taxes in Illinois during February

Webp david harris 3

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 February, according to Illinois tax records.

In total, Springfield residents paid $6.9 million in sales taxes during February.

Springfield also ranked second in the Prairie State the month before, with $9.4 million spent in sales taxes.

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

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 February
Municipal Home Rule Sales Tax [59.8%]Municipal Sales Tax [39.5%]Business District Tax [0.5%]Municipal Automobile Renting Tax [0.1%]

Sales Taxes Collected in Springfield in February
Type of TaxAmount Collected in Month% Change From Previous Month
Municipal Home Rule Sales Tax$4,105,168-28.2
Municipal Sales Tax$2,712,823-23.2
Business District Tax$35,899-62.6
Municipal Automobile Renting Tax$8,852-6.9

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS