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Sunday, November 24, 2024

Income tax hike will cost Osco residents $93,703.17 more this year, ranked 13th in Henry County

Property tax 2

Osco taxpayers will pay an additional $93,703.17 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.

Osco's estimated increase in income tax payments ranks 13th out of 16 Henry County cities, with an average increase of $589.33 per person. All told, the entire Henry County will collectively pay an extra $13,912,511.06 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 Henry County compare:

City
Estimated increase
Ranking
Geneseo
$5,380,080.86
1
Kewanee
$2,493,498.68
2
Colona
$1,700,466.20
3
Orion
$934,443.68
4
Cambridge
$754,403.55
5
Galva
$733,316.08
6
Atkinson
$382,596.98
7
Annawan
$372,507.51
8
Woodhull
$297,738.47
9
Alpha
$286,414.73
10
Lynn Center
$277,858.97
11
Andover
$134,266.27
12
Osco
$93,703.17
13
Bishop Hill
$29,275.66
14
Hooppole
$24,363.01
15
Ophiem
$17,577.24
16

Here's how all cities within the Rock Island Today coverage area will fare under the tax hike:

County
City
Estimated increase
Rock Island
Moline
$11,263,559.71
Rock Island
Rock Island
$7,105,350.53
Henry
Geneseo
$5,380,080.86
Whiteside
Sterling
$5,201,688.10
Rock Island
East Moline
$4,307,721.48
Rock Island
Milan
$2,862,696.72
Whiteside
Rock Falls
$2,691,123.42
Henry
Kewanee
$2,493,498.68
Rock Island
Coal Valley
$2,120,485.98
Whiteside
Morrison
$1,835,322.11
Henry
Colona
$1,700,466.20
Whiteside
Fulton
$1,642,795.26
Rock Island
Silvis
$1,529,881.95
Rock Island
Port Byron
$1,362,236.19
Mercer
Aledo
$1,339,863.92
Henry
Orion
$934,443.68
Mercer
Sherrard
$832,343.41
Rock Island
Taylor Ridge
$818,265.62
Whiteside
Prophetstown
$807,398.91
Henry
Cambridge
$754,403.55
Henry
Galva
$733,316.08
Whiteside
Erie
$709,627.17
Rock Island
Hampton
$532,425.28
Rock Island
Rapids City
$431,868.45
Rock Island
Andalusia
$427,568.86
Rock Island
Cordova
$394,596.41
Henry
Atkinson
$382,596.98
Rock Island
Illinois City
$377,664.07
Henry
Annawan
$372,507.51
Whiteside
Tampico
$368,180.56
Mercer
Viola
$355,530.97
Rock Island
Reynolds
$321,189.79
Rock Island
Hillsdale
$304,527.67
Whiteside
Albany
$301,395.01
Henry
Woodhull
$297,738.47
Mercer
New Windsor
$295,160.46
Mercer
New Boston
$288,861.71
Henry
Alpha
$286,414.73
Henry
Lynn Center
$277,858.97
Mercer
Joy
$213,011.79
Whiteside
Lyndon
$203,199.38
Whiteside
Deer Grove
$188,737.71
Mercer
Matherville
$156,330.43
Rock Island
Carbon Cliff
$145,007.48
Henry
Andover
$134,266.27
Mercer
Seaton
$132,696.78
Mercer
Keithsburg
$111,869.53
Whiteside
Fenton
$109,470.69
Henry
Osco
$93,703.17
Mercer
Preemption
$91,578.50
Mercer
North Henderson
$85,094.79
Henry
Bishop Hill
$29,275.66
Whiteside
Galt
$27,154.94
Henry
Hooppole
$24,363.01
Rock Island
Barstow
$18,909.13
Henry
Ophiem
$17,577.24

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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