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Galesburg Reporter

Tuesday, April 16, 2024

Analysis: How much more will Raritan residents pay in income taxes?

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Raritan residents will have to pay $40,042 more in state income taxes if Gov. J.B. Pritzker's proposed tax hike is to generate the $10.3 billion in additional tax revenue that he has promised, according to a Galesburg Reporter analysis of Illinois Department of Revenue data.

Pritzker claims the additional tax revenue will "eliminate the budget deficit."

The city in Henderson County that will be the most affected by Pritzker's proposal is Oquawka, with residents expected to pay an additional $779,660 in income taxes -- approximately $976 per person in the labor force. Raritan will pay only $40,042 more -- approximately $1,430 per person in the labor force in comparison, the least among Henderson County cities.

The following table shows how other cities in Henderson County are affected.

How much more will residents from Henderson County pay on the proposal?

CityTotal Expected Income Tax burdenTotal IncreasePer Person Increase
Oquawka$1,989,698$779,660$976
Stronghurst$1,507,423$590,681$1,257
Gladstone$982,327$384,923$3,597
Biggsville$955,586$374,445$1,992
Lomax$650,787$255,010$1,835
Carman$535,985$210,025--
Media$316,768$124,125$1,320
Raritan$102,188$40,042$1,430

Per person increases have been calculated using the most recent data about people in the labor force as provided by the U.S. Census Bureau's ongoing American Community Survey.

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