South Central Reporter

South Central Reporter

Wednesday, April 8, 2020

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

Politics

By Metric Media News Service | Feb 28, 2020

Adobestock 211865737

Palmyra residents will have to pay $565,842 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 Macoupin County that will be the most affected by Pritzker's proposal is Carlinville, with residents expected to pay an additional $4,163,569 in income taxes -- approximately $1,594 per person in the labor force. Eagarville will pay only $34,562 more -- approximately $549 per person in the labor force in comparison, the least among Macoupin County cities.

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

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

City
Total Expected Income Tax burden
Total Increase
Per Person Increase
Carlinville
$10,625,462
$4,163,569
$1,594
Staunton
$8,801,790
$3,448,966
$1,518
Gillespie
$5,358,110
$2,099,566
$1,403
Bunker Hill
$4,901,364
$1,920,591
$1,954
Virden
$4,567,137
$1,789,625
$977
Girard
$4,168,419
$1,633,388
$2,062
Mount Olive
$3,800,175
$1,489,092
$1,506
Shipman
$2,325,508
$911,246
$2,839
Benld
$1,652,875
$647,676
$906
Medora
$1,481,025
$580,337
$2,224
Palmyra
$1,444,033
$565,842
$2,127
Modesto
$776,351
$304,212
$2,766
Hettick
$674,835
$264,433
$3,947
Chesterfield
$578,930
$226,853
$1,409
Piasa
$444,029
$173,992
--
Wilsonville
$373,011
$146,164
$526
Nilwood
$121,728
$47,699
$438
Sawyerville
$111,387
$43,647
$383
Eagarville
$88,203
$34,562
$549

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 Palmyra ?

Sign-up Next time we write about Village of Palmyra, 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 Palmyra

More News