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Tuesday, April 7, 2020

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

Politics

By Metric Media News Service | Feb 21, 2020

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Valier residents will have to pay $245,823 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 North Egypt News analysis of Illinois Department of Revenue data.

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

The city in Franklin County that will be the most affected by Pritzker's proposal is Benton, with residents expected to pay an additional $4,578,391 in income taxes -- approximately $1,463 per person in the labor force. Coello will pay only $68,014 more in comparison, the least among Franklin County cities.

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

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

City
Total Expected Income Tax burden
Total Increase
Per Person Increase
Benton
$11,684,091
$4,578,391
$1,463
West Frankfort
$11,192,348
$4,385,702
$1,378
Sesser
$2,939,115
$1,151,687
$1,399
Thompsonville
$2,824,078
$1,106,610
$4,918
Mulkeytown
$2,417,911
$947,454
$13,535
Christopher
$2,257,072
$884,430
$779
Royalton
$1,367,259
$535,758
$1,061
Zeigler
$1,163,060
$455,743
$559
Ewing
$963,217
$377,435
$3,119
Valier
$627,343
$245,823
$833
Whittington
$482,690
$189,141
--
Buckner
$315,905
$123,787
$648
Logan
$260,696
$102,153
--
Orient
$260,267
$101,985
$836
Coello
$173,572
$68,014
--

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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Village of Valier

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