Champaign County taxpayers will see a total of $48 million in state income tax increases after SB 9, a tax hike measure, passed the Democrat-controlled Illinois State Senate to become law.
The Champaign County community that will see the largest increase is Southwest Champaign/Savoy, with a $10.8 million total increase and a $1,032 average increase.
Other communities that will see a large collective increase include West Champaign ($8.4 million), Mahomet ($5.1 million), East Champaign/University of Illinois ($4.5 million), East Urbana ($4.3 million) and West Urbana/University of Illinois ($4.3 million).
Taxpayers from Mahomet ($876), Savoy ($751), Philo ($700) and St. Joseph ($700) will see the highest average increases.
Senate Bill 9, a revenue bill that would generate $5.4 billion by raising the income tax rate to 4.95 percent from 3.75 percent and the corporate tax rate to 7 percent from 5.25 percent, passed 36-18 on Tuesday. It passed the House on Sunday. Gov. Bruce Rauner then vetoed the bill, but the Senate quickly overrode his veto. The House is expected to vote on an override Thursday.
LGIS looked at 2014 income taxes paid by zip code to create a ranking of the highest-paying Champaign County communities.
Its analysis looked at the percentage of total state income taxes paid by zip code, as reported by the Illinois Department of Revenue. It then applied that percentage to the amount Senate Democrats expect their tax hike will raise to calculate an average increase.
The analysis used 2014 tax return data, which is the latest available and also represents a year in which state income taxes were higher-- five percent, or approximately the level to which the Democrats are hoping to raise them.
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Top income tax-paying communities in Champaign County
Which communities pay the highest income taxes in Champaign County?
Ranking | Communities | Zip | Average State Income Tax Increase | Total Returns filed by Zip |
1 | Champaign (Southwest) / Savoy | 61821 | $1,032 | 10,492 |
2 | Mahomet | 61822 | $876 | 5,800 |
3 | Savoy | 61802 | $751 | 3,296 |
4 | Philo | 61820 | $700 | 829 |
5 | St. Joseph | 61866 | $700 | 2,797 |
6 | Ogden | 61853 | $629 | 574 |
7 | Tolono | 61874 | $628 | 1,926 |
8 | Sidney | 61873 | $625 | 752 |
9 | Champaign (West) | 61880 | $620 | 13,517 |
10 | Homer | 61843 | $618 | 849 |
11 | Pesotum | 61849 | $599 | 407 |
12 | Gifford | 61864 | $581 | 549 |
13 | Fisher | 61877 | $575 | 1,118 |
14 | Urbana (East) | 61853 | $499 | 8,712 |
15 | Thomasboro | 61878 | $483 | 676 |
16 | Champaign (East / U of I) | 61847 | $473 | 9,453 |
17 | Urbana (West / U of I) | 61859 | $470 | 9,142 |
18 | Rantoul | 61863 | $362 | 5,984 |
Source: Illinois Department of Revenue; Blockshopper.com
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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?
Ranking | Communities | Zip | Estimated State Income Tax Increase |
1 | Champaign (Southwest) / Savoy | 61822 | $10,826,208 |
2 | Champaign (West) | 61821 | $8,377,611 |
3 | Mahomet | 61853 | $5,081,364 |
4 | Champaign (East / U of I) | 61820 | $4,467,153 |
5 | Urbana (East) | 61802 | $4,345,595 |
6 | Urbana (West / U of I) | 61801 | $4,300,394 |
7 | Savoy | 61874 | $2,475,096 |
8 | Rantoul | 61866 | $2,166,926 |
9 | St. Joseph | 61873 | $1,957,382 |
10 | Tolono | 61880 | $1,209,724 |
11 | Fisher | 61843 | $643,329 |
12 | Philo | 61864 | $580,639 |
13 | Homer | 61849 | $524,401 |
14 | Sidney | 61877 | $470,084 |
15 | Ogden | 61859 | $361,097 |
16 | Thomasboro | 61878 | $326,732 |
17 | Gifford | 61847 | $319,073 |
18 | Pesotum | 61863 | $243,746 |
TOTAL | $48,676,554 |
Sources: Illinois Department of Revenue; Blockshopper.com; Illinois Senate Democrats
*Assumes tax increase will meet Senate Democrats' projections.