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Macon Reporter

Friday, April 19, 2024

Analysis: Income tax hike will cost Macon County residents $26 million more this year

Decatur

Taxpayers in Decatur will pay an estimated $18M in additional income taxes this year.

Taxpayers in Decatur will pay an estimated $18M in additional income taxes this year.

Macon County residents will pay an additional $26.18 million in state income taxes this year, according to an analysis by Local Government Information Services (LGIS).

LGIS combined Illinois Department of Revenue data with a forecast by Senate Democrats to estimate how much additional income tax will be paid in each Illinois zip code.

The following Macon County communities will pay the most: Decatur ($18.5 million total/$529 per person), Forsyth ($2.14 million/$1301), Mt. Zion ($2 million/$722) and Argenta ($738,896/$641). 

Retroactive to July 1, the higher rate -- now 4.95 percent, up from 3.75 percent -- will be withheld from employee paychecks over the last six months of 2017.

Before the hike, someone earning $50,000 paid $72 in state income tax per paycheck. That person will now pay $95, or an additional $600 per year.

Senate Democrats estimate the tax hike will siphon $4.453 billion more this year from individual taxpayers. Businesses will pay another $1 billion.

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How much more will your community pay?

State income taxes have increased to 4.95 percent from 3.75 percent. This chart shows how much more taxpayers in your community will pay for state government.

RankingCommunityZipEstimated State Income Tax Increase
1Decatur (Southeast)62521$9,561,893
2Decatur (North)62526$5,852,812
3Decatur (Southwest)62522$2,741,278
4Forsyth62535$2,140,363
5Mt. Zion62549$2,010,296
6Argenta62501$738,896
7Maroa61756$684,527
8Macon62544$510,507
9Blue Mound62513$451,310
10Oreana62554$443,786
11Warrensburg62573$385,051
12Niantic62551$190,442
13Decatur62525$142,864
14Decatur (Downtown)62523$131,105
15Decatur62524$83,596
16Boody62514$48,641
17Harristown62537$35,216
18Elwin62532$34,579

Total

$26,187,160
Sources: Illinois Department of Revenue; Blockshopper.com

 

Top income tax-paying communities in Macon County

This chart shows the ranking of communities by highest income taxes paid in Macon County.

RankingCommunityZipAverage State Income Tax IncreaseTotal Returns filed by Zip
1Forsyth62535$1,3011,645
2Decatur62525$1,020140
3Elwin62532$82342
4Mt. Zion62549$7222,786
5Maroa61756$706970
6Decatur (Downtown)62523$643204
7Argenta62501$6411,153
8Decatur (Southeast)62521$62415,333
9Macon62544$615830
10Oreana62554$612725
11Blue Mound62513$595759
12Warrensburg62573$593649
13Niantic62551$520366
14Decatur (Southwest)62522$4845,665
15Decatur62524$478175
16Harristown62537$44080
17Boody62514$430113
18Decatur (North)62526$42813,673
Sources: Illinois Department of Revenue; Blockshopper.com; Illinois Senate Democrats

*Assumes tax increase will meet Senate Democrats' projections.

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