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Sunday, November 24, 2024

Loves Park ranks 86th in total sales taxes paid per municipality in Illinois for 2022

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Director David Harris | Illinois Department of Revenue

Director David Harris | Illinois Department of Revenue

Loves Park taxpayers ranked 86th in total sales taxes among Illinois municipalities in 2022, according to Illinois tax records.

In total, Loves Park residents paid $11.1 million in sales taxes during 2022.

Loves Park also ranked 86th in the Prairie State the year before, with $10.4 million spent in sales taxes.

The Municipal Sales Tax accounted for the largest share of sales taxes paid by Loves Park residents in 2022.

As of 2021, Illinois was the highest taxed state in the US. A study from Wallet Hub found Illinois taxes were 39.83% higher than the national average.

Illinois governor J. B. Pritzker is accused of adding more than $5.2 billion in new or higher taxes since coming into power in early 2019. As a business owner, he has a fortune of more than $3 billion, largely based on his family's wealth and connections.

Composition of Sales Tax Revenue in Loves Park in 2022
Municipal Sales Tax [59.4%]Non-Home Rule Sales Tax [38.8%]Business District Tax [1.8%]

Sales Taxes Collected in Loves Park in 2022

Type of TaxAmount Collected in Year% Change From Previous Year
Municipal Sales Tax$6,625,5212.5
Non-Home Rule Sales Tax$4,322,14513.3
Business District Tax$197,87817

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