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Sunday, December 22, 2024

Analysis: Proposed K-12 budget would cost Rock Island residents $93.8M more in income taxes

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Quad Cities residents would pay $93,827,452 more in state income taxes if the state agrees to increase school funding by $7.2 billion, according to a Rock Island Today 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, Rapids City residents would see the largest average increase in the Quad Cities at $1,823 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
Rapids City61278$1,474,777$1,997,970$523,193$1,823
Geneseo61254$24,997,500$33,865,640$8,868,140$1,634
Preemption61276$423,076$573,167$150,091$1,631
Coal Valley61240$10,840,500$14,686,288$3,845,788$1,373
Lynn Center61262$1,337,047$1,811,379$474,332$1,336
Cordova61242$2,021,957$2,739,268$717,311$1,321
Taylor Ridge61284$4,201,604$5,692,169$1,490,565$1,318
Port Byron61275$7,029,000$9,522,616$2,493,616$1,295
Sherrard61281$4,126,639$5,590,610$1,463,971$1,229
Hampton61256$2,852,022$3,863,808$1,011,786$1,212
Reynolds61279$1,556,243$2,108,337$552,094$1,136
Andalusia61232$2,087,736$2,828,384$740,648$1,131
Orion61273$4,786,712$6,484,850$1,698,138$1,103
Seaton61476$613,191$830,727$217,536$1,099
Milan61264$14,404,500$19,514,656$5,110,156$1,078
Illinois City61259$1,877,962$2,544,190$666,228$1,078
Atkinson61235$1,869,764$2,533,083$663,319$1,043
Altona61414$1,118,741$1,515,627$396,886$1,039
Alpha61413$1,468,010$1,988,803$520,793$1,033
Andover61233$707,801$958,901$251,100$1,029
North Henderson61466$399,726$541,533$141,807$1,020
Woodhull61490$1,429,588$1,936,751$507,163$1,008
Aledo61231$6,732,000$9,120,252$2,388,252$1,004
Hillsdale61257$1,490,384$2,019,114$528,730$1,001
Annawan61234$1,716,328$2,325,214$608,886$993
Moline61265$56,925,000$77,119,775$20,194,775$977
Matherville61263$769,029$1,041,850$272,821$971
Cambridge61238$3,754,281$5,086,154$1,331,873$969
Colona61241$8,464,500$11,467,375$3,002,875$949
New Windsor61465$1,454,162$1,970,042$515,880$941
Viola61486$1,778,222$2,409,067$630,845$936
Osco61274$411,275$557,180$145,905$918
Bishop Hill61419$176,404$238,986$62,582$907
Joy61260$938,596$1,271,574$332,978$874
Rock Island61201$37,323,000$50,563,748$13,240,748$866
New Boston61272$1,521,728$2,061,578$539,850$847
Galva61434$3,507,850$4,752,298$1,244,448$837
East Moline61244$23,512,500$31,853,820$8,341,320$818
Silvis61282$8,217,000$11,132,072$2,915,072$815
Ophiem61468$84,623$114,644$30,021$770
Kewanee61443$12,523,500$16,966,350$4,442,850$766
Barstow61236$95,489$129,365$33,876$753
Hooppole61258$123,553$167,384$43,831$743
Keithsburg61442$573,090$776,401$203,311$713
Carbon Cliff61239$764,071$1,035,133$271,062$569

Total$93,827,452

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

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