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South Central Reporter

Friday, April 19, 2024

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

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Pana residents will have to pay $3,078,688 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 Christian County that will be the most affected by Pritzker's proposal is Taylorville, with residents expected to pay an additional $7,517,409 in income taxes -- approximately $1,406 per person in the labor force. Bulpitt will pay only $70,067 more -- approximately $947 per person in the labor force in comparison, the least among Christian County cities.

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

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

CityTotal Expected Income Tax burdenTotal IncreasePer Person Increase
Taylorville$19,184,490$7,517,409$1,406
Pana$7,856,837$3,078,688$1,193
Edinburg$2,507,264$982,467$1,724
Morrisonville$2,244,336$879,439$1,587
Assumption$2,153,551$843,865$1,626
Kincaid$1,578,646$618,590$838
Stonington$1,543,549$604,837$1,329
Mount Auburn$1,048,345$410,792$1,317
Owaneco$731,905$286,796$2,706
Tovey$490,822$192,328$798
Harvel$431,973$169,268$1,659
Palmer$421,541$165,180$1,921
Rosamond$297,950$116,751--
Bulpitt$178,811$70,067$947

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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