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South West Illinois News

Thursday, November 21, 2024

Analysis: Proposed K-12 budget would cost Southwest Illinois residents $40M more in income taxes

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Southwest Illinois residents would pay $40,074,180 more in state income taxes if the state agrees to increase school funding by $7.2 billion, according to a Southwest Illinois News analysis of Illinois Department of Revenue data.

Superintendent Tony Smith called for increasing K-12 public schools funding to $50 billion next year, or $27,000 per student. Smith hasn’t said where he expects the new money to come from.

The state raised income taxes by 32 percent just six months ago, in part to fund a new school spending plan. If the superintendent's plan goes through unchanged, Columbia residents would see the largest average increase in Southwest Illinois at $1,527 per household.

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How much more will your community pay?

CityZipCurrent income taxIncome tax under proposed planIncrease by zip codeAverage household increase
Columbia62236$26,433,000$35,810,400$9,377,400$1,527
Fults62244$1,638,783$2,220,159$581,376$1,261
Waterloo62298$28,165,500$38,157,523$9,992,023$1,243
Valmeyer62295$1,981,614$2,684,614$703,000$1,083
Red Bud62278$9,603,000$13,009,771$3,406,771$1,070
Evansville62242$1,892,878$2,564,398$671,520$1,068
Rockwood62280$497,959$674,615$176,656$1,039
Chester62233$7,276,500$9,857,919$2,581,419$953
Pinckneyville62274$7,029,000$9,522,616$2,493,616$914
Walsh62297$394,023$533,807$139,784$914
Ellis Grove62241$1,228,976$1,664,969$435,993$912
Hecker62248$533,998$723,439$189,441$906
Steeleville62288$3,428,146$4,644,319$1,216,173$900
Maeystown62256$164,839$223,317$58,478$886
Prairie Du Rocher62277$1,484,575$2,011,244$526,669$871
Modoc62261$154,297$209,035$54,738$829
Sparta62286$5,989,500$8,114,342$2,124,842$824
Duquoin62832$8,811,000$11,936,800$3,125,800$813
Tamaroa62888$2,030,512$2,750,859$720,347$812
Baldwin62217$725,765$983,239$257,474$778
Dubois62831$577,531$782,416$204,885$762
Cutler62238$540,700$732,519$191,819$761
Percy62272$1,271,879$1,723,092$451,213$732
Willisville62997$468,987$635,365$166,378$688
Tilden62292$566,215$767,086$200,871$636
Renault62279$71,864$97,358$25,494$607

Total$40,074,180

Sources: Illinois Department of Revenue; Blockshopper.com; Illinois State Board of Education

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