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South Central Reporter

Wednesday, April 24, 2024

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

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Montgomery County residents will have to pay $12,951,776 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 South Central Reporter analysis of Illinois Department of Revenue data.

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

The city in Montgomery County that will be the most affected by Pritzker's proposal is Litchfield, with residents expected to pay an additional $4,320,614 in income taxes -- approximately $1,356 per person in the labor force. Ohlman will pay only $39,526 more -- approximately $618 per person in the labor force in comparison, the least among Montgomery County cities.

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

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

CityTotal Expected Income Tax burdenTotal IncreasePer Person Increase
Litchfield$11,026,243$4,320,614$1,356
Hillsboro$7,681,292$3,009,901$1,782
Nokomis$3,786,223$1,483,625$1,764
Raymond$2,108,839$826,345$1,773
Farmersville$1,542,559$604,449$1,747
Coffeen$1,142,355$447,630$1,873
Witt$1,019,055$399,315$984
Irving$1,016,299$398,235$2,907
Fillmore$881,643$345,470$3,085
Waggoner$794,853$311,462$3,664
Butler$698,590$273,741$4,562
Taylor Springs$549,397$215,280$1,139
Walshville$470,718$184,450$8,783
Panama$234,101$91,732$997
Ohlman$100,870$39,526$618

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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