Quantcast

Macon Reporter

Monday, December 23, 2024

Decatur responsible for 22nd-highest sales tax revenue in Illinois during May

Webp david harris 2

Director David Harris | Illinois Department of Revenue

Director David Harris | Illinois Department of Revenue

Decatur taxpayers paid the 22nd largest sum in sales taxes per municipality in May, according to Illinois tax records.

In total, Decatur residents paid $2.3 million in sales taxes during May.

Decatur also ranked 22nd in the Prairie State the month before, with $2.4 million spent in sales taxes.

The Municipal Sales Tax accounted for the largest share of sales taxes paid by Decatur residents in May.

In Illinois, Municipal Sales Taxes, typically set at 1%, are combined with the state sales tax of 5% and a county tax of 0.25%, resulting in a total state tax rate of 6.25%. These taxes vary at local level and are aimed at diverse municipal needs, like infrastructure and public services. The revenue generated from these taxes is destined to fund local government operations, public safety, education, and community development projects.

As of 2021, Illinois was the highest taxed state in the US. A study from Wallet Hub found Illinois taxes were 39.83% higher than the national average.

Illinois governor J. B. Pritzker is accused of adding more than $5.2 billion in new or higher taxes since coming into power in early 2019. As a business owner, he has a fortune of more than $3 billion, largely based on his family's wealth and connections.

Composition of Sales Tax Revenue in Decatur in May
Municipal Sales Tax [50.9%]Municipal Home Rule Sales Tax [48.9%]Municipal Automobile Renting Tax [0.2%]

Sales Taxes Collected in Decatur in May
Type of TaxAmount Collected in Month% Change From Previous Month
Municipal Sales Tax$1,175,943-5.1
Municipal Home Rule Sales Tax$1,128,924-2.2
Municipal Automobile Renting Tax$4,493-2.8

MORE NEWS