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Tuesday, April 16, 2024

Analysis: Income tax hike will cost Ogle County residents $13.3M more this year

Oregon  illinois oregon park e

Oregon Park in Oregon, Illinois, where residents are projected to experience a $1,849,148 tax increase this year. | Ben Jacobson via Wikimedia Commons

Oregon Park in Oregon, Illinois, where residents are projected to experience a $1,849,148 tax increase this year. | Ben Jacobson via Wikimedia Commons

Ogle County residents will pay an additional $13,293,004 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 Ogle County communities will pay the most: Rochelle ($3,194,220 total/$496 per person), Byron ($2,747,511/$780), Oregon ($1,849,148/$559) and Stillman Valley ($1,079,861/$725). 

Retroactive to July 1, the higher rate -- now 4.95 percent, up from 3.75 percent -- 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 percent from 3.75 percent. This chart shows how much more taxpayers in your community will pay for state government.

RankingCommunityZipEstimated State Income Tax Increase
1Rochelle61068$3,194,220
2Byron61010$2,747,511
3Oregon61061$1,849,148
4Stillman Valley61084$1,079,861
5Polo61064$885,724
6Davis Junction61020$791,054
7Mount Morris61054$724,214
8Forreston61030$540,422
9Leaf River61047$432,055
10Monroe Center61052$359,756
11Chana61015$270,759
12Lindenwood61049$151,986
13Creston60113$114,680
14Baileyville61007$111,692
15Holcomb61043$23,500
16Woosung61091$16,421

Total

$13,293,004
Sources: Illinois Department of Revenue; Blockshopper.com

 

Top income tax-paying communities in Ogle County

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

RankingCommunityZipAverage State Income Tax IncreaseTotal Returns filed by Zip
1Byron61010$7803,522
2Stillman Valley61084$7251,489
3Monroe Center61052$681528
4Davis Junction61020$6311,253
5Lindenwood61049$620245
6Chana61015$596454
7Oregon61061$5593,310
8Leaf River61047$558774
9Forreston61030$5221,035
10Polo61064$5031,761
11Creston60113$496231
12Rochelle61068$4966,438
13Baileyville61007$484231
14Mount Morris61054$4311,679
15Woosung61091$42139
16Holcomb61043$34668
Sources: Illinois Department of Revenue; Blockshopper.com; Illinois Senate Democrats

*Assumes tax increase will meet Senate Democrats' projections.

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