Quantcast

Will County Gazette

Sunday, December 22, 2024

Will County taxpayers will pay an extra $290M with passage of tax hike law

Illinoiscapitol

Will County taxpayers will see a total of $290 million in state income tax increases after SB 9, a tax hike measure, passed the Democrat-controlled Illinois State Senate to become law.

The communities in Will County that will see the largest increase are Southwest Naperville, with a $29.5 million total increase and a $1,646 average increase, and Southeast Naperville, with a $24.5 million total increase and a $1,313 average increase.

Other communities that will see large collective increases include Frankfort/Frankfort Square ($16.5 million), Homer Glen East ($14.7 million) and New Lenox ($14.6 million).

Taxpayers from North Plainfield ($1,218), Frankfort/Frankfort Square ($1,122), Homer Glen ($1,112) and Mokena ($1,046) will see the highest average increases.

Senate Bill 9, a revenue bill that would generate $5.4 billion by raising the income tax rate to 4.95 percent from 3.75 percent and the corporate tax rate to 7 percent from 5.25 percent, passed 36-18 on Tuesday. It passed the House on Sunday. Gov. Bruce Rauner then vetoed the bill, but the Senate quickly overrode his veto. The House is expected to vote on an override Thursday.

LGIS looked at 2014 income taxes paid by zip code to create a ranking of the highest-paying Will County communities.

Its analysis looked at the percentage of total state income taxes paid by zip code, as reported by the Illinois Department of Revenue. It then applied that percentage to the amount Senate Democrats expect their tax hike will raise to calculate an average increase.

The analysis used 2014 tax return data, which is the latest available and also represents a year in which state income taxes were higher-- five percent, or approximately the level to which the Democrats are hoping to raise them.

----

Top income tax-paying communities in Will County

Which communities pay the highest income taxes in Will County?

RankingCommunitiesZipAverage State Income Tax IncreaseTotal Returns filed by Zip
1Naperville (Southwest)60564$1,64617,928
2Naperville (Southeast)60565$1,31318,690
3Plainfield (North)60585$1,2189,310
4Frankfort / Frankfort Square60423$1,12214,746
5Homer Glen (East)60467$1,11213,193
6Mokena60448$1,04611,993
7Homer Glen (Central)60491$99511,007
8Bolingbrook (West)60490$9708,629
9Aurora (Southeast)60503$9676,307
10New Lenox60451$87316,725
11Shorewood60404$8438,511
12Manhattan60442$8214,629
13Tinley Park (Southwest)60487$81312,860
14Channahon60410$7755,907
15Joliet (Far West)60431$74610,559
16Monee60449$7443,966
17Joliet (Far Northwest) / Plainfield (South)60586$74319,552
18Minooka60447$7376,415
19Lockport / Fairmont60441$71115,348
20Plainfield (Central)60544$70312,189
21Crete60417$6836,950
22Elwood60421$6731,846
23Peotone60468$6372,886
24Beecher60401$6173,672
25Wilmington / Braidwood60481$5835,474
26Braidwood60408$5712,622
27Bolingbrook (East)60440$55322,961
28Romeoville60446$54817,334
29Joliet (Northwest)60435$49221,617
30Steger60475$4464,263
31Crest Hill60403$4468,294
32Park Forest (South)60466$3849,000
33Joliet (Southwest) / Rockdale60436$3817,637
34University Park60484$3722,439
35Joliet (Northeast)60432$3568,543
36Joliet (Southeast) / Ingalls Park / Preston Heights60433$3546,824

Source: Illinois Department of Revenue; Blockshopper.com

----

How much more will your community pay?

With state income taxes increased to 4.95 percent from 3.75 percent, how much more will taxpayers in your community pay for state government?

RankingCommunitiesZipEstimated State Income Tax Increase
1Naperville (Southwest)60564$29,506,041
2Naperville (Southeast)60565$24,547,747
3Frankfort / Frankfort Square60423$16,544,192
4Homer Glen (East)60467$14,665,822
5New Lenox60451$14,598,284
6Joliet (Far Northwest) / Plainfield (South)60586$14,519,226
7Bolingbrook (East)60440$12,707,722
8Mokena60448$12,548,472
9Plainfield (North)60585$11,338,567
10Homer Glen (Central)60491$10,956,582
11Lockport / Fairmont60441$10,914,932
12Joliet (Northwest)60435$10,642,326
13Tinley Park (Southwest)60487$10,450,571
14Romeoville60446$9,490,516
15Plainfield (Central)60544$8,574,112
16Bolingbrook (West)60490$8,368,886
17Joliet (Far West)60431$7,876,324
18Shorewood60404$7,170,562
19Aurora (Southeast)60503$6,097,934
20Crete60417$4,749,051
21Minooka60447$4,725,133
22Channahon60410$4,575,160
23Manhattan60442$3,800,836
24Crest Hill60403$3,700,273
25Park Forest (South)60466$3,460,363
26Wilmington / Braidwood60481$3,193,600
27Joliet (Northeast)60432$3,045,058
28Monee60449$2,950,258
29Joliet (Southwest) / Rockdale60436$2,910,812
30Joliet (Southeast) / Ingalls Park / Preston Heights60433$2,418,883
31Beecher60401$2,264,766
32Steger60475$1,902,180
33Peotone60468$1,838,222
34Braidwood60408$1,497,602
35Elwood60421$1,242,877
36University Park60484$906,190

TOTAL

$290,700,082

Sources: Illinois Department of Revenue; Blockshopper.com; Illinois Senate Democrats

*Assumes tax increase will meet Senate Democrats' projections.

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS