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Sunday, December 22, 2024

West Cook County taxpayers to pay an extra $230M with passage of tax hike law

Illinoiscapitol

West Cook County taxpayers will see a total of $230 million in state income tax increases after SB 9, a tax hike measure, passed the Democrat-controlled Illinois State Senate to become law.

The West Cook community that will see the largest increases is Hinsdale, with a $35.9 million total increase and a $4,494 average increase.

Other communities that will see a large collective increase include Burr Ridge ($24.1 million), North Oak Park ($23.1 million), La Grange/Countryside/Indian Head Park/La Grange Highlands ($17.7 million) and Western Springs ($14.7 million). 

Taxpayers from River Forest ($2,639), Western Springs ($2,414), Burr Ridge ($1,690) and North Oak Park ($1,560) 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 West Cook 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 West Cook County

Which communities pay the highest income taxes in West Cook County?

RankingCommunitiesZipAverage State Income Tax IncreaseTotal Returns filed by Zip
1Hinsdale60521$4,4947,984
2River Forest60305$2,6394,957
3Western Springs60558$2,4146,092
4Burr Ridge60527$1,69014,241
5Oak Park (North)60302$1,56014,786
6La Grange / Countryside / Indian Head Park / La Grange Highlands60525$1,15715,282
7Oak Park (South)60304$1,0237,563
8La Grange Park60526$9826,481
9Riverside / North Riverside60546$9607,666
10Oak Park (Downtown)60301$9421,249
11Willow Springs60480$8542,741
12Westchester60154$6508,688
13Brookfield60513$6469,205
14Forest Park60130$6096,944
15Elmwood Park60707$52819,776
16Hillside60162$5023,842
17Berkeley60163$4842,534
18Berwyn / Stickney60402$45427,093
19Franklin Park60131$4528,817
20Lyons60534$4484,732
21River Grove60171$4225,248
22Northlake / Melrose Park (Northwest)60164$41710,015
23Broadview60155$4083,658
24Melrose Park60160$38310,389
25Bellwood60104$3668,220
26Stone Park60165$3351,818
27Cicero60804$32530,767
28Maywood60153$3218,980

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
1Hinsdale 60521$35,881,230
2Burr Ridge60527$24,066,011
3Oak Park (North)60302$23,058,845
4La Grange / Countryside / Indian Head Park / La Grange Highlands60525$17,683,880
5Western Springs60558$14,706,700
6River Forest60305$13,080,012
7Berwyn / Stickney60402$12,307,414
8Elmwood Park60707$10,445,261
9Cicero60804$10,013,650
10Oak Park (South)60062$7,739,309
11Riverside / North Riverside60546$7,358,011
12La Grange Park60526$6,367,278
13Brookfield60513$5,950,810
14Westchester60154$5,651,336
15Forest Park60130$4,229,549
16Northlake / Melrose Park (Northwest)60164$4,176,164
17Franklin Park60131$3,989,638
18Melrose Park60160$3,978,075
19Bellwood60104$3,010,261
20Maywood60153$2,881,954
21Willow Springs60480$2,342,015
22River Grove60171$2,216,880
23Lyons60534$2,118,824
24Hillside60162$1,927,886
25Broadview60155$1,491,478
26Berkeley60163$1,226,803
27Oak Park (Downtown)60301$1,176,295
28Stone Park60165$608,766

TOTAL

$229,684,335

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

*Assumes tax increase will meet Senate Democrats' projections.

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