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Saturday, April 20, 2024

Analysis: Income tax hike will cost Winnebago County residents $68.9M more this year.

Rockford

Rockford, Illinois, a city where residents are projected to pay over $9,939,441 in additional taxes this year. | Jim Simonson, via Wikimedia Commons

Rockford, Illinois, a city where residents are projected to pay over $9,939,441 in additional taxes this year. | Jim Simonson, via Wikimedia Commons

Winnebago County residents will pay an additional $68.98 million in state income taxes this year, according to an analysis by Local Government Information Services (LGIS).

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 zip code.

The following Winnebago County communities will pay the most: Rockford ($9,939,441 total/$720 per person), Roscoe ($7,415,760/$809), Loves Park ($5,821,735/$686) and Machesney Park ($5,009,898/$479).

Retroactive to July 1, the higher rate -- now 4.95 percent, up from 3.75 percent -- will be withheld from employee paychecks over the last six months of 2017.

Before the hike, someone earning $50,000 paid $72 in state income tax per paycheck when paid twice a month. 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.

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How much more will your community pay?

State income taxes have increased to 4.95 percent from 3.75 percent. This chart shows how much more taxpayers in your community will pay for state government.

RankingCommunityZipEstimated State Income Tax Increase
1Rockford61107$9,939,441
2Roscoe61073$7,415,760
3Rockford61114$6,375,930
4Loves Park61111$5,821,735
5Rockford61108$5,730,295
6Rockford61109$5,087,112
7Machesney Park61115$5,009,898
8Rockford61103$4,326,623
9Rockton61072$3,587,470
10South Beloit61080$2,671,003
11Rockford61102$2,637,146
12Rockford61101$2,597,520
13Winnebago61088$1,939,500
14Rockford61104$1,782,137
15Cherry Valley61016$1,668,404
16Pecatonica61063$1,120,799
17Durand61024$724,665
18Rockford61125$157,167
19Loves Park61132$93,338
20Rockford61126$91,251
21Rockford61110$53,953
22Rockford61105$40,277
23Shirland61079$33,833
24Rockford61112$27,035
25Seward61077$21,699
26Loves Park61131$17,994
27Rockford61106$9,015

Total 

$68,981,000
Sources: Illinois Department of Revenue; Blockshopper.com

 

Top income tax-paying communities in Winnebago County

This chart shows the ranking of communities by highest income taxes paid in Winnebago County.

RankingCommunityZipAverage State Income Tax IncreaseTotal Returns filed by Zip
1Rockford61125$1,055149
2Rockford61112$90130
3Rockford61114$8707,331
4Roscoe61073$8099,165
5Rockford61110$73973
6Rockford61107$72013,796
7Rockton61072$7035,103
8Winnebago61088$6912,807
9Loves Park61132$686136
10Cherry Valley61016$6832,441
11Durand61024$6111,186
12South Beloit61080$6004,450
13Rockford61126$581157
14Pecatonica61063$5731,955
15Loves Park61111$54510,673
16Loves Park61131$50036
17Seward61077$48245
18Machesney Park61115$47910,461
19Rockford61103$4609,412
20Rockford61108$45312,651
21Shirland61079$45175
22Rockford61109$44411,460
23Rockford61105$44391
24Rockford61106$41022
25Rockford61102$3866,836
26Rockford61101$3377,717
27Rockford61104$2806,359
Sources: Illinois Department of Revenue; Blockshopper.com; Illinois Senate Democrats

*Assumes tax increase will meet Senate Democrats' projections.

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