Income tax hike will cost Poplar Grove residents $2,864,136.23 more this year, ranked 2nd in Boone County
LGIS combined Illinois Department of Revenue data with a forecast by Senate Democrats to estimate how much additional income tax will be paid in each Illinois city.
Poplar Grove's estimated increase in income tax payments ranks second out of 5 Boone County cities, with an average increase of $630.17 per person. All told, the entire Boone County will collectively pay an extra $13,993,257.08 in income taxes this year, according to the analysis.
Retroactive to July 1, the higher rate now 4.95 percent, up from 3.75 percent will be withheld from employee paychecks over the remaining six months of 2017.
Before the hike, someone earning $50,000 paid $72 in state income tax per paycheck. That person will now pay $95, or an additional $600 per year.
Senate Democrats estimate the tax hike will siphon $4.453 billion more this year from individual taxpayers. Businesses will pay another $1 billion.
The following table shows how cities within Boone County compare:
Here's how all cities within the Rockford Sun coverage area will fare under the tax hike:
The following cities will experience the highest estimated increase:
Organizations in this Story
1212 Logan Avenue
Belvidere, IL - 61008
Loves Park, IL - 61111
450 Candlewick Dr
Poplar Grove, IL - 61065
5050 E State St
Rockford, IL - 61108
200 Hill St
Poplar Grove, IL - 61065-6500