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Saturday, March 28, 2020

Analysis: How much more will New Windsor residents pay in income taxes?


By Rock Island Today Reports | Feb 21, 2020

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New Windsor residents will have to pay $615,082 more in state income taxes if Gov. J.B. Pritzker's proposed tax hike is to generate the $10.3 billion in additional tax revenue that he has promised, according to a Rock Island Today analysis of Illinois Department of Revenue data.

Pritzker claims the additional tax revenue will "eliminate the budget deficit."

The city in Mercer County that will be the most affected by Pritzker's proposal is Aledo, with residents expected to pay an additional $2,722,074 in income taxes -- approximately $1,703 per person in the labor force. Preemption will pay only $105,325 more in comparison, the least among Mercer County cities.

The following table shows how other cities in Mercer County are affected.

How much more will residents from Mercer County pay on the proposal?

Total Expected Income Tax burden
Total Increase
Per Person Increase
New Boston
New Windsor
North Henderson

Per person increases have been calculated using the most recent data about people in the labor force as provided by the U.S. Census Bureau's ongoing American Community Survey.

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