Macon Reporter

Macon Reporter

Thursday, February 27, 2020

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

Politics

By Metric Media News Service | Feb 13, 2020

Money 01

Piatt County residents will have to pay $11,085,837 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 Macon Reporter analysis of Illinois Department of Revenue data.

Pritzker claims the additional tax revenue will "eliminate the budget deficit."

The city in Piatt County that will be the most affected by Pritzker's proposal is Monticello, with residents expected to pay an additional $5,970,720 in income taxes -- approximately $1,891 per person in the labor force. Milmine will pay only $36,604 more in comparison, the least among Piatt County cities.

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

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

City
Total Expected Income Tax burden
Total Increase
Per Person Increase
Monticello
$15,237,327
$5,970,720
$1,891
White Heath
$3,062,797
$1,200,152
$7,274
Mansfield
$2,740,903
$1,074,018
$2,196
Bement
$2,453,427
$961,371
$1,067
Cerro Gordo
$2,103,501
$824,253
$1,207
Hammond
$888,204
$348,041
$1,634
De Land
$742,987
$291,138
$1,004
Cisco
$721,239
$282,616
$1,713
La Place
$247,348
$96,923
--
Milmine
$93,413
$36,604
--

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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Organizations in this Story

State of IllinoisVillage of BementCity of MonticelloVillage of Cerro GordoVillage of MansfieldVillage of CiscoVillage of HammondWhite HeathVillage of De Land

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