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Macon Reporter

Thursday, November 21, 2024

Analysis: Proposed K-12 budget would cost Macon area residents $59.1M more in income taxes

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Greater Decatur residents would pay $59,058,287 more in state income taxes if the state agrees to increase school funding by $7.2 billion, according to a Macon Reporter analysis of Illinois Department of Revenue data.

Superintendent Tony Smith called for increasing K-12 public schools funding to $50 billion next year, or $27,000 per student. Smith hasn’t said where he expects the new money to come from.

The state raised income taxes by 32 percent just six months ago, in part to fund a new school spending plan. If the superintendent's plan goes through unchanged, Forsyth residents would see the largest average increase in Greater Decatur at $2,103 per household.

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How much more will your community pay?

CityZipCurrent income taxIncome tax under proposed planIncrease by zip codeAverage household increase
Forsyth62535$9,751,500$13,210,953$3,459,453$2,103
Elwin62532$161,369$218,616$57,247$1,363
Mt Zion62549$9,801,000$13,278,013$3,477,013$1,248
Dalton City61925$1,471,444$1,993,455$522,011$1,217
Maroa61756$3,229,705$4,375,479$1,145,774$1,181
Oakley62501$3,647,197$4,941,080$1,293,883$1,122
Dewitt61735$456,198$618,039$161,841$1,109
Decatur62523$631,891$856,062$224,171$1,099
Oreana62554$2,224,791$3,014,061$789,270$1,089
Decatur62521$46,678,500$63,238,215$16,559,715$1,080
Sullivan61951$11,088,000$15,021,591$3,933,591$1,079
Macon62544$2,452,188$3,322,129$869,941$1,048
Farmer City61842$3,907,261$5,293,405$1,386,144$1,042
Warrensburg62573$1,906,414$2,582,735$676,321$1,042
Weldon61882$866,895$1,174,435$307,540$1,032
Wapella61777$1,295,054$1,754,488$459,434$1,016
Blue Mound62513$2,133,156$2,889,917$756,761$997
Clinton61727$12,325,500$16,698,108$4,372,608$992
Waynesville61778$754,252$1,021,832$267,580$898
Gays61928$798,798$1,082,181$283,383$888
Kenney61749$610,079$826,511$216,432$880
Niantic62551$904,791$1,225,775$320,984$877
Harristown62537$196,926$266,787$69,861$873
Decatur62522$13,810,500$18,709,928$4,899,428$865
Lovington61937$2,100,498$2,845,673$745,175$861
Bethany61914$2,063,733$2,795,865$732,132$858
Lane61750$129,946$176,046$46,100$854
Decatur62526$30,838,500$41,778,800$10,940,300$800
Boody62514$237,324$321,518$84,194$745

Total$59,058,287

Sources: Illinois Department of Revenue; Blockshopper.com; Illinois State Board of Education

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