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Macon Reporter

Sunday, November 24, 2024

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

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Gays residents will have to pay $342,635 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 Moultrie County that will be the most affected by Pritzker's proposal is Sullivan, with residents expected to pay an additional $5,322,129 in income taxes -- approximately $2,405 per person in the labor force. Gays will pay only $342,635 more -- approximately $2,315 per person in the labor force in comparison, the least among Moultrie County cities.

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

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

CityTotal Expected Income Tax burdenTotal IncreasePer Person Increase
Sullivan$13,582,116$5,322,129$2,405
Lovington$2,444,934$958,043$1,632
Bethany$2,366,521$927,317$1,474
Dalton City$1,699,413$665,912$2,611
Gays$874,408$342,635$2,315

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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