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Sunday, December 22, 2024

Rock Island County taxpayers will pay an extra $34M with passage of tax hike law

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Rock Island County taxpayers will see a total of $34 million in state income tax increases after SB 9, a tax hike measure, passed the Democrat-controlled Illinois State Senate to become law.

Rock Island County communities that will see the largest collective increases include Moline ($11.2 million), Rock Island ($7.1 million), East Moline ($4.3 million), Milan/Coyne Center ($2.9 million) and Coal Valley ($2.1 million).

Taxpayers from Rapids City ($1,505), Coal Valley ($757), Cordova ($727), Taylor Ridge ($724) and Port Byron/Rapids City ($707) will see the highest average increases.

Senate Bill 9, a revenue bill that would generate $5.4 billion by raising the income tax rate to 4.95 percent from 3.75 percent and the corporate tax rate to 7 percent from 5.25 percent, passed 36-18 on Tuesday. It passed the House on Sunday. Gov. Bruce Rauner then vetoed the bill, but the Senate quickly overrode his veto. The House is expected to vote on an override Thursday.

LGIS looked at 2014 income taxes paid by zip code to create a ranking of the highest-paying Rock Island County communities.

Its analysis looked at the percentage of total state income taxes paid by zip code, as reported by the Illinois Department of Revenue. It then applied that percentage to the amount Senate Democrats expect their tax hike will raise to calculate an average increase.

The analysis used 2014 tax return data, which is the latest available and also represents a year in which state income taxes were higher-- five percent, or approximately the level to which the Democrats are hoping to raise them.

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Top income tax-paying communities in Rock Island County

Which communities pay the highest income taxes in Rock Island County?

RankingCommunitiesZipAverage State Income Tax IncreaseTotal Returns filed by Zip
1Rapids City61278$1,505287
2Coal Valley61240$7572,802
3Cordova61242$727543
4Taylor Ridge61284$7241,131
5Port Byron / Rapids City61275$7071,926
6Reynolds61279$661486
7Andalusia61232$653655
8Hampton61256$638835
9Illinois City61259$611618
10Milan / Coyne Center61264$6044,739
11Hillsdale61257$577528
12Moline61265$54120,664
13Rock Island61201$46215,285
14Silvis61282$4283,577
15East Moline61244$42310,194
16Carbon Cliff61239$305476

Source: Illinois Department of Revenue; Blockshopper.com

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How much more will your community pay?

With state income taxes increased to 4.95 percent from 3.75 percent, how much more will taxpayers in your community pay for state government?

RankingCommunitiesZipEstimated State Income Tax Increase
1Moline61265$11,172,170
2Rock Island61201$7,063,168
3East Moline61244$4,308,024
4Milan / Coyne Center61264$2,862,898
5Coal Valley61240$2,120,635
6Silvis61282$1,529,989
7Port Byron / Rapids City61275$1,362,332
8Taylor Ridge61284$818,323
9Hampton61256$532,463
10Rapids City61278$431,899
11Andalusia61232$427,599
12Cordova61242$394,624
13Illinois City61259$377,691
14Reynolds61279$321,212
15Hillsdale61257$304,549
16Carbon Cliff61239$145,018

TOTAL

$34,172,594

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

*Assumes tax increase will meet Senate Democrats' projections.

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