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Friday, April 19, 2024

Analysis: Income tax hike will cost Saline County residents $5M more this year

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Saline County residents will pay an additional $4.97 million in state income taxes this year, according to an analysis by Local Government Information Services (LGIS).

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

The following Saline County communities will pay the most: Harrisburg ($2.6 million total/$521 per person), Eldorado ($1.06 million/$462), Galatia ($457,641/$562) and Carrier Mills ($375,226/$407). 

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. They 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.

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Top income tax-paying communities in Saline County

Which communities pay the highest income taxes in Saline County?

RankingZIPCommunitesAverage State Income Tax IncreaseTotal Returns filed by ZIP
162946Harrisburg$5215,151
262930Eldorado$4632,299
362935Galatia$562814
462917Carrier Mills$407923
562987Stonefort$487458
662977Raleigh$527284
762965Muddy$28950
Sources: Illinois Department of Revenue; Blockshopper.com

How much more will your community pay?

With state income taxes increased to 4.95 percent from 3.75 percent, how much more will taxpayers in your community pay for state government?

RankingCommunitiesZIPEstimated State Income Tax Increase*
1Harrisburg62946$2,684,089
2Eldorado62930$1,064,280
3Galatia62935$457,641
4Carrier Mills62917$375,226
5Stonefort62987$222,817
6Raleigh62977$149,534
7Muddy62965$14,455

TOTAL

$4,968,042
Sources: Illinois Department of Revenue; Blockshopper.com; Illinois Senate Democrats

*Assumes tax increase will meet Senate Democrats' projections.

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