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Sunday, December 22, 2024

Northwest Cook County taxpayers would pay an extra $435M if Democrats’ tax hike becomes law

Cullerton

State Sen. John Cullerton (D-Chicago) is eager to raise state income taxes. Taxpayers in his north side district will pay the most. | City Club of Chicago

State Sen. John Cullerton (D-Chicago) is eager to raise state income taxes. Taxpayers in his north side district will pay the most. | City Club of Chicago

Northwest Cook County taxpayers would see a total of $435 million in state income tax increases if a tax hike measure passed by the Democrat-controlled Illinois State Senate becomes law.

The Northwest Cook County community that would see the largest increase is Barrington/South Barrington/West Inverness, which would see a total increase of $55 million and an average increase of $2,650.

Other communities that would see a large collective increase include North Arlington Heights ($27.5 million), West Palatine/East Inverness ($26.4 million), Park Ridge ($25.1 million) and Buffalo Grove ($22.7 million).

Taxpayers from West Palatine/East Inverness ($1,341), Park Ridge ($1,328), Lincolnwood ($1,172) and West Hoffman Estates ($1,093) would see the highest average increases.

Led by Senate President John Cullerton (D-Chicago), Democrats passed the individual income tax hike last week-- from 3.75 percent to 4.95 percent-- along with a broader set of tax increases on businesses.

If their projections prove correct, individual Illinois taxpayers will send an additional $4.453 billion to Springfield each year as a result of the higher rates. Businesses will pay another $1 billon.

LGIS looked at 2014 income taxes paid by zip code to create a ranking of the highest-paying Northwest 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 NW Cook County

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

RankingCommunitiesZipAverage State Income Tax IncreaseTotal Returns filed by Zip
1Barrington / South Barrington / Inverness (West)60010$2,65020,747
2Palatine (West), Inverness (East)60067$1,34119,706
3Park Ridge60068$1,32818,893
4Lincolnwood60712$1,1726,065
5Hoffman Estates (West)60192$1,0937,356
6Buffalo Grove60089$1,07321,127
7Arlington Heights (North)60004$1,06725,736
8Arlington Heights (South)60005$1,01714,933
9Schaumburg (Northeast)60173$9636,811
10Bartlett60103$91619,609
11Skokie (West)60077$80713,132
12Schaumburg (Far North)60195$7932,651
13Des Plaines (South)60018$77914,508
14Rosemont60018$77914,508
15Roselle60172$77512,462
16Skokie (East)60076$76516,015
17Schaumburg (South)60193$75020,001
18Morton Grove60053$73511,797
19Mount Prospect60056$72227,789
20Prospect Heights60070$7117,795
21Elk Grove Village60007$70417,953
22Schaumburg (Northwest)60194$6879,739
23Rolling Meadows60008$64211,108
24Palatine (East)60074$63318,492
25Hoffman Estates (East)60169$61516,089
26Streamwood60107$60918,679
27Wheeling60090$57519,101
28Des Plaines (North)60016$57330,622
29Niles60714$55315,003
30Hanover Park60133$49016,995
31Elgin (East)60120$46422,307
32Schiller Park60176$4345,931

Source: Illinois Department of Revenue; Blockshopper.com

How much more will your community pay?

If state income taxes are 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
1Barrington / South Barrington / Inverness (West) / Barrington Hills60010$54,972,193
2Arlington Heights (North)60004$27,469,479
3Palatine (West), Inverness (East)60067$26,419,667
4Park Ridge60068$25,091,630
5Buffalo Grove60089$22,665,393
6Mount Prospect60056$20,067,935
7Bartlett60103$17,953,720
8Des Plaines (North)60016$17,559,308
9Arlington Heights (South)60005$15,191,059
10Schaumburg (South)60193$15,009,801
11Elk Grove Village60007$12,630,347
12Skokie (East)60076$12,247,500
13Palatine (East)60074$11,706,894
14Streamwood60107$11,370,653
15Des Plaines (South)60018$11,300,372
16Rosemont60018$11,300,372
17Wheeling60090$10,987,934
18Skokie (West)60077$10,593,141
19Elgin (East)60120$10,355,922
20Hoffman Estates (East)60169$9,889,995
21Roselle60172$9,662,905
22Morton Grove60053$8,671,979
23Hanover Park60133$8,333,750
24Niles60714$8,289,631
25Hoffman Estates (West)60192$8,042,136
26Rolling Meadows60008$7,126,015
27Lincolnwood60712$7,105,718
28Schaumburg (Northwest)60194$6,687,132
29Schaumburg (Northeast)60173$6,557,906
30Prospect Heights60070$5,540,555
31Schiller Park60176$2,575,731
32Schaumburg (Far North)60195$2,103,373

TOTAL

$435,480,146

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

*Assumes tax increase will meet Senate Democrats' projections.

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