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Metro East Sun

Wednesday, April 17, 2024

Analysis: Income tax hike will cost Jersey County residents $4M more this year

Ruebelhotel

The Ruebel Hotel in Grafton, Illinois, where taxpayers will pay an estimated $508K in additional income taxes this year.

The Ruebel Hotel in Grafton, Illinois, where taxpayers will pay an estimated $508K in additional income taxes this year.

Jersey County residents will pay an additional $4.31 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 Jersey County communities will pay the most: Jerseyville ($2.84 million total/$525 per person), Grafton ($508,209/$589), Dow ($282,862/$515) and Medora ($274,232/$539). 

Retroactive to July 1, the higher rate – now 4.95 percent, up from 3.75 percent – is being 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. That person will now pay $95, or an additional $600 per year.

Senate Democrats estimate the tax hike will siphon $4.45 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
1Jerseyville62052$2,845,100
2Grafton62037$508,209
3Dow62022$282,862
4Medora62063$274,232
5Elsah62028$204,422
6Fieldon62031$192,712
7Fidelity62030$6,929

Total

$4,314,466
Sources: Illinois Department of Revenue; Blockshopper.com

 

Top income tax-paying communities in Jersey County

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

RankingCommunityZIPAverage State Income Tax IncreaseTotal Returns filed by ZIP
1Grafton62037$589863
2Medora62063$539509
3Jerseyville62052$5255,423
4Dow62022$515549
5Elsah62028$454450
6Fieldon62031$448430
7Fidelity62030$20434
Sources: Illinois Department of Revenue; Blockshopper.com; Illinois Senate Democrats

*Assumes tax increase will meet Senate Democrats' projections.

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