Chambana Sun

Chambana Sun

Friday, April 3, 2020

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


By Metric Media News Service | Feb 25, 2020

Shutterstock 469426916

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?

Total Expected Income Tax burden
Total Increase
Per Person Increase
Gibson City
Piper City

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 Village of Sibley ?

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

Organizations in this Story

Village of Sibley

More News