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Monday, December 23, 2024

Analysis: Proposed K-12 budget would cost Southern Illinois residents $20.4M more in income taxes

Moneypens

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Southern Illinois residents would pay $20,361,071 more in state income taxes if the state agrees to increase school funding by $7.2 billion, according to a Southern Illinois News 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, Belknap residents would see the largest average increase in Southern Illinois at $1,056 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
Belknap62908$630,838$854,635$223,797$1,056
Cave In Rock62919$959,843$1,300,359$340,516$1,051
Ozark62972$1,313,221$1,779,100$465,879$947
Goreville62939$3,410,321$4,620,171$1,209,850$929
Herod62947$468,812$635,128$166,316$924
Wolf Lake62998$416,169$563,810$147,641$917
Elizabethtown62931$1,469,200$1,990,415$521,215$903
Vienna62995$4,058,950$5,498,907$1,439,957$879
Cobden62920$3,206,369$4,343,864$1,137,495$869
Simpson62985$866,754$1,174,245$307,491$866
Anna62906$7,276,500$9,857,919$2,581,419$862
Buncombe62912$1,093,402$1,481,298$387,896$853
Jonesboro62952$3,268,610$4,428,186$1,159,576$832
Metropolis62960$10,543,500$14,283,923$3,740,423$831
Grand Chain62941$745,859$1,010,461$264,602$819
Alto Pass62905$647,639$877,396$229,757$815
New Burnside62967$284,695$385,694$100,999$815
Karnak62956$802,320$1,086,951$284,631$811
Grantsburg62943$627,256$849,782$222,526$803
Rosiclare62982$892,748$1,209,460$316,712$796
Villa Ridge62996$526,333$713,056$186,723$791
Olive Branch62969$492,029$666,582$174,553$786
Golconda62938$2,276,020$3,083,464$807,444$786
Cypress62923$460,449$623,798$163,349$782
Tamms62988$1,132,121$1,533,754$401,633$765
Thebes62990$783,750$1,061,795$278,045$751
Dongola62926$1,742,217$2,360,288$618,071$737
Brookport62910$1,980,779$2,683,483$702,704$722
Eddyville62928$227,124$307,699$80,575$713
Ullin62992$629,444$852,746$223,302$711
Olmsted62970$461,942$625,821$163,879$709
Pulaski62976$332,724$450,762$118,038$707
Mounds62964$915,419$1,240,174$324,755$677
Mcclure62957$614,710$832,785$218,075$675
Cairo62914$1,349,965$1,828,880$478,915$589
Joppa62953$211,365$286,349$74,984$577
Mound City62963$274,349$371,677$97,328$547

Total$20,361,071

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

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