Income tax hike will cost Moultrie County residents $3.8 million more this year

SULLIVAN (Heartland Newsfeed) — Moultrie County residents will pay an additional $3,812,807 in state income taxes this year, according to an analysis by Local Government Information Services (LGIS).

LGIS combined Illinois Department of Revenue data with a forecast by Senate Democrats to estimate how much additional income tax will be paid in each Illinois zip code.

The following Moultrie County communities will pay the most: Sullivan ($2,494,088 total/$684 per person), Bethany ($405,754/$476), Dalton City ($317,455/$740) and Gays ($163,851/$514).

Retroactive to July 1, the higher rate — now 4.95%, up from 3.75% — will be withheld from employee paychecks over the last six months of 2017.

Before the hike, someone earning $50,000 paid $72 in state income tax per paycheck when paid twice a month. That person will now pay $95, or an additional $600 per year.

Senate Democrats estimate the tax hike will siphon $4.453 billion more this year from individual taxpayers. Businesses will pay another $1 billion.

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How much more will your community pay?

State income taxes have increased to 4.95% from 3.75%. This chart shows how much more taxpayers in your community will pay for state government.

Sources: Illinois Department of Revenue; Blockshopper.com

Top income tax-paying communities in Moultrie County

This chart shows the ranking of communities by highest income taxes paid in Moultrie County.

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

*Assumes tax increase will meet Senate Democrats’ projections.

Jake Leonard, Executive Editor-In-Chief

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Jake Leonard, a broadcast media and journalism veteran, is the editor-in-chief of Heartland Newsfeed. Leonard is also GM and program director of Heartland Newsfeed Radio Network, wrestling editor and contributing writer for Ambush Sports, a contributing writer for My Sports Vote and Midwest Sports Network, and a former contributor to Bleacher Report and Overtime Heroics. He resides at home in Nokomis, Ill. with his dog Buster.

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