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Tuesday, November 5, 2024

Analysis: Income tax hike will cost Wayne County residents $3.3M more this year

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Wayne County residents will pay an additional $3.31 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 Wayne County communities will pay the most: Fairfield ($1,907,980 total/$493 per person), Wayne City ($427,273/$503), Cisne ($317,547/$427) and Geff ($188,514/$550). 

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.

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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
1Fairfield62837$1,907,980
2Wayne City62895$427,273
3Cisne62823$317,547
4Geff62842$188,514
5Mount Erie62446$107,799
6Barnhill62809$83,141
7Keenes62851$80,492
8Sims62886$68,222
9Rinard62878$67,524
10Johnsonville62850$63,939
11Golden Gate62843$19,130

Total

$3,331,562
Sources: Illinois Department of Revenue; Blockshopper.com

 

Top income tax-paying communities in Wayne County

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

RankingCommunityZipAverage State Income Tax IncreaseTotal Returns filed by Zip
1Barnhill62809$665125
2Mount Erie62446$596181
3Geff62842$550343
4Keenes62851$506159
5Wayne City62895$503849
6Fairfield62837$4933,870
7Golden Gate62843$45542
8Rinard62878$444152
9Sims62886$440155
10Johnsonville62850$429149
11Cisne62823$427743
Sources: Illinois Department of Revenue; Blockshopper.com; Illinois Senate Democrats

*Assumes tax increase will meet Senate Democrats' projections.

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