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Will County Gazette

Saturday, November 23, 2024

Shorewood ranks 70th in total sales taxes paid in Illinois during May

Webp cory staley 1

Chief Financial Officer Cory Staley | Illinois Department of Revenue

Chief Financial Officer Cory Staley | Illinois Department of Revenue

Shorewood taxpayers ranked 70th in total sales taxes paid per municipality in May, according to Illinois tax records.

In total, Shorewood residents paid $1.1 million in sales taxes during May.

Shorewood ranked 74th in the Prairie State the month before, with $1.1 million spent in sales taxes.

The Municipal Home Rule Sales Tax accounted for the largest share of sales taxes paid by Shorewood residents in May.

In Illinois, the Municipal Home Rule Sales Tax applies to a broad range of general merchandise. It operates similar to the state sales tax, but excludes certain items like vehicles and specific foods, drugs, and medical appliances that require state agency titling or registration. While this tax can be set in small increments with no maximum limit, it's important to note that not all municipalities choose to implement it. The revenue generated is destined to local services and infrastructure needs.

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 Shorewood in May
Municipal Home Rule Sales Tax [54.7%]Municipal Sales Tax [45.3%]Non-Home Rule Sales Tax [0%]

Sales Taxes Collected in Shorewood in May
Type of TaxAmount Collected in Month% Change From Previous Month
Municipal Home Rule Sales Tax$589,3031.2
Municipal Sales Tax$487,714-0.2
Non-Home Rule Sales Tax$29-

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