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SE Illinois News

Monday, November 25, 2024

Income tax hike will cost Omaha residents $217,021.16 more this year, ranked 3rd in Gallatin County

Money 1

Omaha taxpayers will pay an additional $217,021.16 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.

Omaha's estimated increase in income tax payments ranks third out of 6 Gallatin County cities, with an average increase of $822.05 per person. All told, the entire Gallatin County will collectively pay an extra $1,278,089.16 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 Gallatin County compare:

City
Estimated increase
Ranking
Ridgway
$339,550.85
1
Shawneetown
$335,316.78
2
Omaha
$217,021.16
3
Equality
$198,848.23
4
Junction
$107,291.30
5
New Haven
$80,060.84
6

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

County
City
Estimated increase
Saline
Harrisburg
$2,684,089.26
Massac
Metropolis
$1,975,534.55
White
Carmi
$1,868,228.78
Hamilton
McLeansboro
$1,184,880.64
Saline
Eldorado
$1,064,279.59
Johnson
Vienna
$704,354.58
White
Norris City
$695,661.73
Johnson
Goreville
$596,091.59
Saline
Galatia
$457,640.98
White
Grayville
$430,724.16
Pope
Golconda
$401,650.30
Hamilton
Dahlgren
$388,557.10
Saline
Carrier Mills
$375,225.77
Massac
Brookport
$368,479.99
Gallatin
Ridgway
$339,550.85
Gallatin
Shawneetown
$335,316.78
White
Crossville
$282,577.70
Hardin
Elizabethtown
$263,749.08
White
Enfield
$255,541.68
Johnson
Ozark
$239,922.03
Saline
Stonefort
$222,817.09
Gallatin
Omaha
$217,021.16
Johnson
Buncombe
$202,684.73
Gallatin
Equality
$198,848.23
Hardin
Cave In Rock
$184,806.75
Hardin
Rosiclare
$183,272.52
Saline
Raleigh
$149,533.87
Johnson
Simpson
$143,279.33
Hamilton
Macedonia
$130,849.96
Johnson
Belknap
$126,636.94
Hamilton
Broughton
$111,334.61
Johnson
Grantsburg
$108,236.68
Gallatin
Junction
$107,291.30
White
Mill Shoals
$102,359.18
Johnson
Cypress
$85,925.97
White
Springerton
$84,183.09
Pope
Herod
$83,519.51
Gallatin
New Haven
$80,060.84
Johnson
New Burnside
$48,521.06
White
Burnt Prairie
$47,596.73
Pope
Eddyville
$40,520.47
Massac
Joppa
$35,026.34
Saline
Muddy
$14,455.36
White
Maunie
$12,018.90

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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