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Sunday, April 5, 2020

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

Politics

By Metric Media News Service | Feb 13, 2020

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Boone County residents will have to pay $33,047,468 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 Rockford Sun analysis of Illinois Department of Revenue data.

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

The city in Boone County that will be the most affected by Pritzker's proposal is Belvidere, with residents expected to pay an additional $21,220,254 in income taxes -- approximately $1,635 per person in the labor force. Garden Prairie will pay only $709,690 more -- approximately $6,633 per person in the labor force in comparison, the least among Boone County cities.

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

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

City
Total Expected Income Tax burden
Total Increase
Per Person Increase
Belvidere
$54,154,261
$21,220,254
$1,635
Poplar Grove
$17,090,656
$6,696,944
$2,721
Caledonia
$8,231,840
$3,225,632
$26,658
Capron
$3,049,515
$1,194,947
$1,296
Garden Prairie
$1,811,135
$709,690
$6,633

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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Organizations in this Story

Village of CaledoniaBelvidere TownshipVillage of Poplar GroveVillage of CapronGarden Prairie

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