Chambana Sun

Chambana Sun

Monday, February 17, 2020

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

Politics

By Metric Media News Service | Feb 13, 2020

Money 06

Vermilion County residents will have to pay $29,657,159 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 Chambana Sun analysis of Illinois Department of Revenue data.

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

The city in Vermilion County that will be the most affected by Pritzker's proposal is Danville, with residents expected to pay an additional $14,920,212 in income taxes -- approximately $1,215 per person in the labor force. East Lynn will pay only $58,597 more in comparison, the least among Vermilion County cities.

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

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

City
Total Expected Income Tax burden
Total Increase
Per Person Increase
Danville
$38,076,503
$14,920,212
$1,215
Hoopeston
$5,061,742
$1,983,435
$830
Westville
$4,821,078
$1,889,131
$1,346
Georgetown
$4,279,856
$1,677,054
$1,095
Oakwood
$3,944,502
$1,545,646
$1,667
Catlin
$3,410,087
$1,336,237
$1,422
Rossville
$1,924,793
$754,227
$1,103
Fairmount
$1,797,851
$704,485
$2,590
Potomac
$1,625,055
$636,775
$2,123
Bismarck
$1,619,260
$634,504
$2,158
Tilton
$1,599,905
$626,920
$543
Fithian
$1,580,849
$619,453
$2,458
Ridge Farm
$1,223,187
$479,304
$1,080
Sidell
$868,640
$340,375
$1,372
Rankin
$824,357
$323,023
$1,436
Alvin
$816,722
$320,031
--
Indianola
$551,770
$216,210
$1,578
Allerton
$525,693
$205,992
$1,515
Armstrong
$404,000
$158,307
--
Henning
$221,109
$86,641
$795
Collison
$179,781
$70,447
--
Muncie
$179,034
$70,154
$668
East Lynn
$149,540
$58,597
--

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.

Want to get notified whenever we write about any of these organizations ?

Sign-up Next time we write about any of these organizations, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

State of IllinoisCity of DanvilleCity of GeorgetownVillage of OakwoodVillage of CatlinVillage of RankinVillage of RossvilleCity of HoopestonVillage of MuncieVillage of FithianVillage of BismarckVillage of IndianolaVillage of SidellVillage of HenningVillage of PotomacVillage of Ridge FarmFairmount VillageVillage of TiltonVillage of Westville

More News