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Friday, November 22, 2024

Analysis: Income tax hike will cost Randolph County residents $7.3M more this year

Redbud 1

Red Bud Illinois, where residents are projected to experience a $2,081,105 tax increase. | Paul Sableman via Wikimedia Commons

Red Bud Illinois, where residents are projected to experience a $2,081,105 tax increase. | Paul Sableman via Wikimedia Commons

Randolph County residents will pay an additional $7,306,462 in state income taxes this year, according to an analysis by Local Government Information Services (LGIS).

LGIS combined Illinois Department of Revenue data with a forecast by Senate Democrats to estimate how much additional income tax will be paid in each Illinois ZIP code.

The following Randolph County communities will pay the most: Red Bud ($2,081,105 total/$653 per person), Chester ($1,317,254/$486), Sparta ($1,133,449/$439) and Steeleville ($671,945/$497). 

Retroactive to July 1, the higher rate – now 4.95 percent, up from 3.75 percent – will be withheld from employee paychecks over the last six months of 2017.

Before the hike, someone earning $50,000 paid $72 in state income tax per paycheck when paid twice a month. That person will now pay $95, or an additional $600 per year.

Senate Democrats estimate the tax hike will siphon $4.45 billion more this year from individual taxpayers. Businesses will pay another $1 billion.

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How much more will your community pay?

State income taxes have increased to 4.95 percent from 3.75 percent. This chart shows how much more taxpayers in your community will pay for state government.

RankingCommunityZIPEstimated State Income Tax Increase
1Red Bud62278$2,081,105
2Chester62233$1,317,254
3Sparta62286$1,133,449
4Steeleville62288$671,945
5Coulterville62237$511,654
6Evansville62242$399,180
7Prairie du Rocher62277$297,419
8Percy62272$245,240
9Ellis Grove62241$222,849
10Baldwin62217$136,647
11Tilden62292$100,749
12Rockwood62280$87,319
13Walsh62297$71,688
14Modoc62261$29,962

Total

$7,306,462
Sources: Illinois Department of Revenue; Blockshopper.com

 

Top income tax-paying communities in Randolph County

This chart shows the ranking of communities by highest income taxes paid in Randolph County.

RankingCommunityZIPAverage State Income Tax IncreaseTotal Returns filed by ZIP
1Red Bud62278$6533,185
2Evansville62242$635629
3Rockwood62280$514170
4Steeleville62288$4971,351
5Prairie du Rocher62277$492605
6Chester62233$4862,708
7Walsh62297$469153
8Ellis Grove62241$466478
9Coulterville62237$4561,121
10Modoc62261$45466
11Sparta62286$4392,579
12Baldwin62217$413331
13Percy62272$398616
14Tilden62292$319316
Sources: Illinois Department of Revenue; Blockshopper.com; Illinois Senate Democrats

*Assumes tax increase will meet Senate Democrats' projections.

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