Quantcast

Illinois Valley Times

Wednesday, April 24, 2024

Analysis: Income tax hike will cost LaSalle County residents $27.5M more this year

Ottawail

Washington Park Historic District in Ottawa, Illinois, a city in which residents will pay an estimated $6.8M in additional income taxes this year. | IvoShandor [CC BY-SA 3.0], via Wikimedia Commons

Washington Park Historic District in Ottawa, Illinois, a city in which residents will pay an estimated $6.8M in additional income taxes this year. | IvoShandor [CC BY-SA 3.0], via Wikimedia Commons

LaSalle County residents will pay an additional $27.5 million 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 LaSalle County communities will pay the most: Ottawa ($6.81 million total/$600 per person), Streator ($3.98 million/$468), Peru ($3.02 million/$567) and LaSalle ($2.56 million/$534). 

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. That person will now pay $95, or an additional $600 per year.

Senate Democrats estimate the tax hike will siphon $4.453 billion more this year from individual taxpayers. Businesses will pay another $1 billion.

---

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
1Ottawa61350$6,814,970
2Streator61364$3,985,867
3Peru61354$3,026,195
4LaSalle61301$2,561,859
5Marseilles61341$2,217,259
6Mendota61342$2,116,793
7Oglesby61348$1,166,740
8Sheridan60551$991,636
9Seneca61360$959,121
10Earlville60518$816,679
11Utica61373$633,600
12Leland60531$508,129
13Tonica61370$416,172
14Grand Ridge61325$317,721
15Serena60549$201,719
16Ransom60470$197,634
17Lostant61334$177,796
18Rutland61358$132,959
19Dana61321$72,796
20Troy Grove61372$54,342
21Cedar Point61316$51,254
22Wedron60557$37,505
23Leonore61332$30,639
24Triumph61371$16,373

Total

$27,505,759
Sources: Illinois Department of Revenue; Blockshopper.com

 

Top income tax-paying communities in LaSalle County

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

RankingCommunityZipAverage State Income Tax Increase*Total Returns filed by Zip
1Grand Ridge61325$679468
2Ransom60470$675293
3Rutland61358$668199
4Utica61373$652972
5Serena60549$640315
6Tonica61370$633657
7Seneca61360$6061,583
8Marseilles61341$6053,662
9Ottawa61350$60011,349
10Sheridan60551$5981,658
11Leland60531$586867
12Wedron60557$57765
13Peru61354$5675,338
14Earlville60518$5471,494
15Dana61321$535136
16LaSalle61301$5344,797
17Lostant61334$526338
18Oglesby61348$5192,247
19Mendota61342$5074,174
20Leonore61332$49462
21Troy Grove61372$494110
22Streator61364$4688,517
23Cedar Point61316$404127
24Triumph61371$32750
Sources: Illinois Department of Revenue; Blockshopper.com; Illinois Senate Democrats

*Assumes tax increase will meet Senate Democrats' projections.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS