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Monday, February 24, 2020

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

Politics

By Metric Media News Service | Feb 14, 2020

Money 01

Wabash County residents will have to pay $6,004,537 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 a SE Illinois News analysis of Illinois Department of Revenue data.

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

The city in Wabash County that will be the most affected by Pritzker's proposal is Mount Carmel, with residents expected to pay an additional $5,379,274 in income taxes -- approximately $1,544 per person in the labor force. Keensburg will pay only $54,302 more -- approximately $920 per person in the labor force in comparison, the least among Wabash County cities.

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

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

City
Total Expected Income Tax burden
Total Increase
Per Person Increase
Mount Carmel
$13,727,952
$5,379,274
$1,544
Allendale
$1,251,027
$490,213
$1,499
Bellmont
$206,070
$80,748
$807
Keensburg
$138,579
$54,302
$920

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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Organizations in this Story

Village of KeensburgVillage of AllendaleVillage of BellmontCity of Mount Carmel

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