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Illinois Valley Times

Saturday, November 2, 2024

Income tax hike will cost Cedar Point residents $51,253.52 more this year, ranked 21st in La Salle County

Property tax 4

Cedar Point taxpayers will pay an additional $51,253.52 in 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 city.

Cedar Point's estimated increase in income tax payments ranks 21st out of 24 La Salle County cities, with an average increase of $403.57 per person. All told, the entire La Salle County will collectively pay an extra $27,505,759.43 in income taxes this year, according to the analysis.

Retroactive to July 1, the higher rate now 4.95 percent, up from 3.75 percent will be withheld from employee paychecks over the remaining 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.

The following table shows how cities within La Salle County compare:

City
Estimated increase
Ranking
Ottawa
$6,814,970.11
1
Streator
$3,985,867.06
2
Peru
$3,026,195.24
3
La Salle
$2,561,859.26
4
Marseilles
$2,217,259.46
5
Mendota
$2,116,793.14
6
Oglesby
$1,166,740.34
7
Sheridan
$991,636.27
8
Seneca
$959,121.38
9
Earlville
$816,678.77
10
Utica
$633,599.64
11
Leland
$508,129.36
12
Tonica
$416,171.97
13
Grand Ridge
$317,720.60
14
Serena
$201,719.35
15
Ransom
$197,633.94
16
Lostant
$177,796.01
17
Rutland
$132,959.11
18
Dana
$72,795.67
19
Troy Grove
$54,342.25
20
Cedar Point
$51,253.52
21
Wedron
$37,504.63
22
Leonore
$30,638.87
23
Triumph
$16,373.48
24

Here's how all cities within the Illinois Valley Times coverage area will fare under the tax hike:

County
City
Estimated increase
La Salle
Ottawa
$6,814,970.11
La Salle
Streator
$3,985,867.06
Bureau
Princeton
$3,078,967.47
La Salle
Peru
$3,026,195.24
La Salle
La Salle
$2,561,859.26
La Salle
Marseilles
$2,217,259.46
La Salle
Mendota
$2,116,793.14
Bureau
Spring Valley
$1,363,475.74
La Salle
Oglesby
$1,166,740.34
La Salle
Sheridan
$991,636.27
La Salle
Seneca
$959,121.38
La Salle
Earlville
$816,678.77
Putnam
Granville
$680,401.24
La Salle
Utica
$633,599.64
Bureau
Walnut
$593,995.08
La Salle
Leland
$508,129.36
Bureau
Wyanet
$431,719.26
La Salle
Tonica
$416,171.97
Bureau
Ladd
$393,807.06
Putnam
Hennepin
$381,939.45
Bureau
Tiskilwa
$373,658.65
Bureau
Sheffield
$369,955.28
Bureau
Buda
$341,695.78
La Salle
Grand Ridge
$317,720.60
Bureau
Ohio
$268,822.76
Bureau
Depue
$211,911.70
La Salle
Serena
$201,719.35
La Salle
Ransom
$197,633.94
Bureau
Neponset
$195,703.19
La Salle
Lostant
$177,796.01
Putnam
McNabb
$159,348.91
Bureau
Dalzell
$156,867.19
Putnam
Magnolia
$153,543.50
Putnam
Putnam
$143,878.71
La Salle
Rutland
$132,959.11
Bureau
Arlington
$131,502.49
Bureau
Cherry
$125,270.58
Bureau
Malden
$99,304.92
Putnam
Mark
$97,238.14
Bureau
Mineral
$94,245.19
Bureau
Manlius
$91,058.32
La Salle
Dana
$72,795.67
Bureau
Seatonville
$68,406.36
La Salle
Troy Grove
$54,342.25
Putnam
Standard
$53,851.27
La Salle
Cedar Point
$51,253.52
Bureau
Bureau
$45,528.63
La Salle
Wedron
$37,504.63
La Salle
Leonore
$30,638.87
Bureau
New Bedford
$22,563.30
Bureau
Van Orin
$22,416.21
Bureau
Dover
$19,904.50
La Salle
Triumph
$16,373.48
Bureau
Kasbeer
$8,767.04

The following cities will experience the highest estimated increase:

County
City
Estimated increase
Sangamon
Springfield
$42,257,034.74
Winnebago
Rockford
$38,854,900.95
Peoria
Peoria
$35,750,546.94
McLean
Bloomington
$26,015,757.78
Saint Clair
Belleville
$24,013,638.46
Macon
Decatur
$18,513,548.57
Adams
Quincy
$13,606,291.30
Madison
Edwardsville
$12,695,537.58
McLean
Normal
$11,862,626.89
Rock Island
Moline
$11,263,559.71

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