Galesburg Reporter

Galesburg Reporter

Sunday, February 23, 2020

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

Politics

By Metric Media News Service | Feb 13, 2020

Money 01

Gladstone residents will have to pay $384,923 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?

City
Total Expected Income Tax burden
Total Increase
Per 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.

Want to get notified whenever we write about Village of Gladstone ?

Sign-up Next time we write about Village of Gladstone, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Village of Gladstone

More News