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Monday, November 25, 2024

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

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Wayne City residents will have to pay $903,497 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 Wayne County that will be the most affected by Pritzker's proposal is Fairfield, with residents expected to pay an additional $3,772,839 in income taxes -- approximately $1,653 per person in the labor force. Golden Gate will pay only $26,727 more -- approximately $764 per person in the labor force in comparison, the least among Wayne County cities.

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

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

CityTotal Expected Income Tax burdenTotal IncreasePer Person Increase
Fairfield$9,628,316$3,772,839$1,653
Wayne City$2,305,731$903,497$2,305
Cisne$1,800,383$705,477$2,693
Geff$877,082$343,683--
Mount Erie$525,892$206,070$4,906
Barnhill$462,871$181,375--
Ellery$455,595$178,524--
Rinard$366,746$143,709--
Keenes$364,689$142,903$4,610
Sims$339,450$133,013$1,462
Johnsonville$327,140$128,189$5,341
Golden Gate$68,208$26,727$764

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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