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Friday, April 19, 2024

Analysis: Proposed K-12 budget would cost Northwest Illinois residents $98.9M more in income taxes

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Northwest Illinois residents would pay $98,930,320 more in state income taxes if the state agrees to increase school funding by $7.2 billion, according to a Northwest Illinois News analysis of Illinois Department of Revenue data.

Superintendent Tony Smith called for increasing K-12 public schools funding to $50 billion next year, or $27,000 per student. Smith hasn’t said where he expects the new money to come from.

The state raised income taxes by 32 percent just six months ago, in part to fund a new school spending plan. If the superintendent's plan goes through unchanged, Deer Grove residents would see the largest average increase in Northwest Illinois at $2,121 per household.

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How much more will your community pay?

CityZipCurrent income taxIncome tax under proposed planIncrease by zip codeAverage household increase
Deer Grove61243$711,429$963,816$252,387$2,121
Byron61010$12,820,500$17,368,714$4,548,214$1,291
Stillman Valley61084$5,098,500$6,907,249$1,808,749$1,215
Harmon61042$745,646$1,010,172$264,526$1,170
West Brooklyn61378$777,078$1,052,755$275,677$1,144
Lee60530$942,705$1,277,140$334,435$1,138
Fulton61252$8,217,000$11,132,072$2,915,072$1,131
East Dubuque61025$7,029,000$9,522,616$2,493,616$1,130
Monroe Center61052$1,681,087$2,277,472$596,385$1,130
Galena61036$10,593,000$14,350,984$3,757,984$1,094
Rock City61070$1,548,328$2,097,614$549,286$1,086
Lanark61046$4,176,050$5,657,550$1,481,500$1,071
Dakota61018$1,578,625$2,138,660$560,035$1,067
Davis61019$4,725,717$6,402,217$1,676,500$1,050
Oregon61061$9,751,500$13,210,953$3,459,453$1,045
Chana61015$1,332,968$1,805,853$472,885$1,042
Apple River61001$1,547,132$2,095,994$548,862$1,041
Fenton61251$508,024$688,252$180,228$1,030
Davis Junction61020$3,619,322$4,903,317$1,283,995$1,025
Steward60553$1,022,193$1,384,827$362,634$1,022
Sublette61367$1,087,353$1,473,104$385,751$1,021
Lindenwood61049$702,850$952,194$249,344$1,018
Chadwick61014$1,502,140$2,035,041$532,901$1,017
German Valley61039$1,001,096$1,356,246$355,150$1,012
Albany61230$1,593,946$2,159,416$565,470$1,004
Shannon61078$1,860,305$2,520,269$659,964$994
Prophetstown61277$4,062,359$5,503,526$1,441,167$982
Mt. Carroll61053$3,602,391$4,880,379$1,277,988$982
Erie61250$3,436,135$4,655,142$1,219,007$981
Compton61318$864,962$1,171,817$306,855$980
Ridott61067$953,990$1,292,428$338,438$970
Lena61048$5,643,000$7,644,917$2,001,917$969
Esmond60129$298,442$404,318$105,876$963
Dixon61021$26,928,000$36,481,006$9,553,006$962
Morrison61270$9,207,000$12,473,285$3,266,285$950
Ashton61006$1,981,318$2,684,213$702,895$947
Sterling61081$26,037,000$35,273,914$9,236,914$938
Leaf River61047$2,042,613$2,767,253$724,640$936
Tampico61283$1,675,777$2,270,278$594,501$930
Winslow61089$938,965$1,272,073$333,108$925
Franklin Grove61031$1,730,189$2,343,993$613,804$924
Amboy61310$4,640,601$6,286,905$1,646,304$924
Milledgeville61051$1,943,466$2,632,932$689,466$905
Forreston61030$2,626,705$3,558,558$931,853$900
Thomson61285$1,958,807$2,653,715$694,908$898
Kent61044$296,971$402,325$105,354$893
Paw Paw61353$1,508,552$2,043,727$535,175$892
Cedarville61013$796,810$1,079,487$282,677$892
Pearl City61062$2,249,196$3,047,123$797,927$892
Rochelle61068$15,889,500$21,526,476$5,636,976$876
Polo61064$4,317,710$5,849,466$1,531,756$870
Baileyville61007$560,892$759,875$198,983$861
Creston60113$557,121$754,766$197,645$856
Stockton61085$3,932,304$5,327,333$1,395,029$850
Scales Mound61075$1,192,369$1,615,375$423,006$844
Mcconnell61050$471,130$638,269$167,139$840
Lyndon61261$1,035,284$1,402,562$367,278$811
Freeport61032$30,442,500$41,242,314$10,799,814$810
Nachusa61057$67,904$91,994$24,090$803
Galt61037$150,632$204,070$53,438$798
Mount Morris61054$3,718,577$5,037,783$1,319,206$786
Elizabeth61028$2,220,441$3,008,168$787,727$783
Rock Falls61071$13,612,500$18,441,685$4,829,185$780
Orangeville61060$1,539,017$2,085,001$545,984$772
Eldena61324$106,536$144,331$37,795$771
Warren61087$1,677,328$2,272,378$595,050$755
Woosung61091$82,231$111,403$29,172$748
Hanover61041$1,332,689$1,805,475$472,786$747
Savanna61074$4,050,686$5,487,712$1,437,026$734
Nora61059$119,365$161,711$42,346$718
Eleroy61027$58,053$78,648$20,595$710
Holcomb61043$133,119$180,345$47,226$695

Total$98,930,320

Sources: Illinois Department of Revenue; Blockshopper.com; Illinois State Board of Education

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