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Illinois Valley Times

Friday, April 19, 2024

Analysis: How much more will Gardner residents pay in income taxes?

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Gardner residents will have to pay $1,572,183 more in state income taxes if Gov. J.B. Pritzker's proposed tax hike is to generate the $10.3 billion in additional tax revenue that he has promised, according to an Illinois Valley Times analysis of Illinois Department of Revenue data.

Pritzker claims the additional tax revenue will "eliminate the budget deficit."

The city in Grundy County that will be the most affected by Pritzker's proposal is Morris, with residents expected to pay an additional $15,612,464 in income taxes -- approximately $2,262 per person in the labor force. Kinsman will pay only $94,038 more -- approximately $2,090 per person in the labor force in comparison, the least among Grundy County cities.

The following table shows how other cities in Grundy County are affected.

How much more will residents from Grundy County pay on the proposal?

CityTotal Expected Income Tax burdenTotal IncreasePer Person Increase
Morris$39,843,136$15,612,464$2,262
Minooka$28,285,655$11,083,685$1,794
Coal City$17,243,488$6,756,831$2,173
Gardner$4,012,224$1,572,183$2,193
Mazon$2,984,893$1,169,625$2,387
Braceville$2,095,543$821,135$1,883
Verona$1,235,764$484,232$4,285
South Wilmington$1,148,350$449,979$1,125
Kinsman$239,986$94,038$2,090

Per person increases have been calculated using the most recent data about people in the labor force as provided by the U.S. Census Bureau's ongoing American Community Survey.

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