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Galesburg Reporter

Saturday, November 23, 2024

Analysis: Proposed K-12 budget would cost Galesburg residents $28.8M more in income taxes

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Greater Galesburg residents would pay $28,755,463 more in state income taxes if the state agrees to increase school funding by $7.2 billion, according to a Galesburg Reporter analysis of Illinois Department of Revenue data.

Superintendent Tony Smith called for increasing K-12 public schools funding to $50 billion next year, or $27,000 per student. Smith hasn’t said where he expects the new money to come from.

The state raised income taxes by 32 percent just six months ago, in part to fund a new school spending plan. If the superintendent's plan goes through unchanged, Dahinda residents would see the largest average increase in Greater Galesburg at $1,375 per household.

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How much more will your community pay?

CityZipCurrent income taxIncome tax under proposed planIncrease by zip codeAverage household increase
Dahinda61428$1,810,262$2,452,472$642,210$1,375
Rio61472$998,692$1,352,989$354,297$1,256
Alexis61412$2,086,739$2,827,032$740,293$1,153
East Galesburg61430$1,204,963$1,632,438$427,475$1,128
Cameron61423$918,529$1,244,387$325,858$1,086
Biggsville61418$895,000$1,212,511$317,511$1,065
Gerlaw61435$247,654$335,511$87,857$1,059
Berwick61417$381,263$516,520$135,257$1,057
Gilson61436$1,178,576$1,596,689$418,113$996
Oneida61467$1,405,114$1,903,594$498,480$991
Knoxville61448$4,715,846$6,388,845$1,672,999$974
Victoria61485$757,430$1,026,137$268,707$967
Smithshire61478$362,463$491,050$128,587$945
Roseville61473$1,910,554$2,588,344$677,790$944
Yates City61572$1,227,466$1,662,923$435,457$943
Williamsfield61489$1,079,530$1,462,505$382,975$925
Wataga61488$1,272,785$1,724,319$451,534$905
Gladstone61437$924,988$1,253,137$328,149$904
Kirkwood61447$1,041,713$1,411,272$369,559$899
Little York61453$733,467$993,673$260,206$897
Stronghurst61480$1,440,176$1,951,095$510,919$896
Galesburg61401$33,561,000$45,467,137$11,906,137$881
Maquon61458$945,679$1,281,169$335,490$865
Oquawka61469$2,174,961$2,946,552$771,591$852
St Augustine61474$304,214$412,137$107,923$843
Media61460$304,327$412,291$107,964$837
Monmouth61462$11,533,500$15,625,137$4,091,637$825
Carman61425$519,751$704,138$184,387$819
Lafayette61449$483,835$655,480$171,645$777
Henderson61439$254,389$344,636$90,247$771
Abingdon61410$3,598,215$4,874,722$1,276,507$758
Lomax61454$663,285$898,593$235,308$731
Raritan61471$119,500$161,894$42,394$695

Total$28,755,463

Sources: Illinois Department of Revenue; Blockshopper.com; Illinois State Board of Education

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