Quantcast

Chambana Sun

Saturday, April 20, 2024

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

Adobestock 292792148

Adobe Stock

Adobe Stock

Sibley residents will have to pay $221,488 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 Ford County that will be the most affected by Pritzker's proposal is Gibson City, with residents expected to pay an additional $2,721,091 in income taxes -- approximately $1,694 per person in the labor force. Elliott will pay only $125,141 more -- approximately $941 per person in the labor force in comparison, the least among Ford County cities.

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

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

CityTotal Expected Income Tax burdenTotal IncreasePer Person Increase
Gibson City$6,944,247$2,721,091$1,694
Paxton$6,635,569$2,600,136$1,265
Piper City$1,207,330$473,090$1,088
Melvin$776,413$304,236$1,352
Cabery$723,755$283,602$2,165
Roberts$686,769$269,109$1,346
Sibley$565,239$221,488$1,367
Kempton$505,394$198,038$2,606
Elliott$319,361$125,141$941

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.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

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

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS