Macon Reporter

Macon Reporter

Thursday, February 27, 2020

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

Politics

By Metric Media News Service | Feb 14, 2020

Money 03

Forsyth residents will have to pay $4,233,416 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 Macon County that will be the most affected by Pritzker's proposal is Decatur, with residents expected to pay an additional $38,764,472 in income taxes -- approximately $1,088 per person in the labor force. Elwin will pay only $51,645 more in comparison, the least among Macon County cities.

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

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

City
Total Expected Income Tax burden
Total Increase
Per Person Increase
Decatur
$98,927,250
$38,764,472
$1,088
Mt. Zion
$11,799,769
$4,623,719
--
Forsyth
$10,803,713
$4,233,416
$3,099
Argenta
$4,090,481
$1,602,848
$3,007
Maroa
$3,389,722
$1,328,257
$1,618
Macon
$2,616,553
$1,025,292
$1,640
Oreana
$2,496,699
$978,327
$2,434
Blue Mound
$2,182,917
$855,372
$1,590
Warrensburg
$2,036,395
$797,958
$1,011
Niantic
$920,859
$360,837
$1,280
Boody
$259,113
$101,533
$521
Harristown
$207,989
$81,500
$142
Elwin
$131,798
$51,645
--

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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Village of Forsyth

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