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Sunday, November 24, 2024

Income tax hike will cost Franklin Grove residents $357,293.59 more this year, ranked 4th in Lee County

Tax 1

Franklin Grove taxpayers will pay an additional $357,293.59 in 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 city.

Franklin Grove's estimated increase in income tax payments ranks fourth out of 13 Lee County cities, with an average increase of $538.09 per person. All told, the entire Lee County will collectively pay an extra $8,429,964.73 in income taxes this year, according to the analysis.

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

Before the hike, someone earning $50,000 paid $72 in state income tax per paycheck. 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.

The following table shows how cities within Lee County compare:

City
Estimated increase
Ranking
Dixon
$5,222,838.46
1
Amboy
$947,416.12
2
Ashton
$404,272.52
3
Franklin Grove
$357,293.59
4
Paw Paw
$290,450.94
5
Steward
$232,396.37
6
Sublette
$226,144.73
7
Lee
$201,341.25
8
Compton
$185,473.22
9
West Brooklyn
$174,132.90
10
Harmon
$155,874.45
11
Eldena
$18,681.27
12
Nachusa
$13,648.91
13

Here's how all cities within the NW Illinois News coverage area will fare under the tax hike:

County
City
Estimated increase
Stephenson
Freeport
$5,799,852
Lee
Dixon
$5,222,838.46
Ogle
Rochelle
$3,194,220.15
Ogle
Byron
$2,747,511.40
Jo Daviess
Galena
$1,962,682.89
Ogle
Oregon
$1,849,148.36
Jo Daviess
East Dubuque
$1,386,599.21
Stephenson
Lena
$1,135,525.77
Ogle
Stillman Valley
$1,079,861.36
Lee
Amboy
$947,416.12
Ogle
Polo
$885,723.97
Stephenson
Davis
$817,992.25
Jo Daviess
Stockton
$813,095.38
Carroll
Lanark
$797,733.06
Ogle
Davis Junction
$791,054.37
Carroll
Savanna
$734,581.67
Ogle
Mount Morris
$724,213.56
Carroll
Mount Carroll
$721,641.86
Ogle
Forreston
$540,421.92
Stephenson
Pearl City
$468,144.85
Jo Daviess
Elizabeth
$446,080.43
Ogle
Leaf River
$432,054.74
Lee
Ashton
$404,272.52
Carroll
Milledgeville
$397,775.12
Carroll
Shannon
$390,556.26
Bureau
La Moille
$373,331.33
Ogle
Monroe Center
$359,756.10
Lee
Franklin Grove
$357,293.59
Carroll
Thomson
$344,006.47
Stephenson
Dakota
$339,722.14
Jo Daviess
Warren
$337,079.66
Stephenson
Rock City
$335,375.46
Stephenson
Orangeville
$332,018.61
Carroll
Chadwick
$321,435.54
Lee
Paw Paw
$290,450.94
Ogle
Chana
$270,758.50
Jo Daviess
Scales Mound
$265,404.35
Jo Daviess
Hanover
$244,912.83
Jo Daviess
Apple River
$235,554.04
Lee
Steward
$232,396.37
Lee
Sublette
$226,144.73
Stephenson
Winslow
$211,429.14
Stephenson
German Valley
$204,276.06
Lee
Lee
$201,341.25
Stephenson
Ridott
$192,061.92
Lee
Compton
$185,473.22
Lee
West Brooklyn
$174,132.90
Lee
Harmon
$155,874.45
Stephenson
Cedarville
$153,038.32
Ogle
Lindenwood
$151,986.38
Ogle
Creston
$114,679.87
Ogle
Baileyville
$111,692.18
Stephenson
McConnell
$94,259.13
Stephenson
Kent
$64,692.99
Ogle
Holcomb
$23,500.25
Jo Daviess
Nora
$22,858.25
Lee
Eldena
$18,681.27
Ogle
Woosung
$16,420.58
Lee
Nachusa
$13,648.91
Stephenson
Eleroy
$10,267.33

The following cities will experience the highest estimated increase:

County
City
Estimated increase
Sangamon
Springfield
$42,257,034.74
Winnebago
Rockford
$38,854,900.95
Peoria
Peoria
$35,750,546.94
McLean
Bloomington
$26,015,757.78
Saint Clair
Belleville
$24,013,638.46
Macon
Decatur
$18,513,548.57
Adams
Quincy
$13,606,291.30
Madison
Edwardsville
$12,695,537.58
McLean
Normal
$11,862,626.89
Rock Island
Moline
$11,263,559.71

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