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Kankakee Times

Tuesday, April 16, 2024

Kankakee County taxpayers would pay an extra $25M with passage of tax hike law

Illinoiscapitol

Kankakee County taxpayers will see a total of $25 million in state income tax increases after SB 9, a tax hike measure, passed the Democrat-controlled Illinois State Senate to become law.

Kankakee communities that will see the largest collective increases include North Bradley/Bourbonnais ($8 million), Kankakee/Limestone ($6.2 million), Manteno ($3.1 million), South Bradley ($2.1 million), St. Anne ($1.3 million) and Momence ($1.2 million). 

Taxpayers from Essex ($711), North Bradley/Bourbonnais ($665), Herscher ($651), Bonfield ($647), Grant Park ($611) and Buckingham ($606) 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 Kankakee 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 Kankakee County

Which communities pay the highest income taxes in Kankakee County?

RankingCommunitiesZipAverage State Income Tax IncreaseTotal Returns filed by Zip
1Essex60935$711487
2Bradley (North) / Bourbonnais60914$66511,978
3Herscher60941$651925
4Bonfield60913$647731
5Grant Park60940$6111,503
6Buckingham60917$606264
7Reddick60961$584352
8Manteno60950$5765,333
9St. Anne60964$5622,261
10Chebanse60922$5251,124
11Momence60954$4592,595
12Kankakee / Limestone60901$44314,044
13Bradley (South)60915$4314,858
14Aroma Park60910$359239
15Hopkins Park60958$246497

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
1Bradley (North) / Bourbonnais60914$7,966,772
2Kankakee / Limestone60901$6,221,246
3Manteno60950$3,072,042
4Bradley (South)60915$2,092,925
5St. Anne60964$1,271,731
6Momence60954$1,190,806
7Grant Park60940$918,077
8Herscher60941$602,247
9Chebanse60922$590,550
10Bonfield60913$472,628
11Essex60935$346,051
12Reddick60961$205,551
13Buckingham60917$159,983
14Hopkins Park60958$122,185
15Aroma Park60910$85,744

TOTAL

$25,318,538

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

*Assumes tax increase will meet Senate Democrats' projections.

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