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Friday, April 19, 2024

Chicago taxpayers would pay an extra $895M 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

Chicago taxpayers would see a total of $895 million in state income tax increases if a tax hike measure passed by the Democrat-controlled Illinois State Senate becomes law.

The Chicago neighborhoods that would see the largest collective increases include Mag Mile ($89.8 million), Lincoln Park ($89.4 million), Lake View ($55.2 million) and Gold Coast ($41.5 million).

Taxpayers from the South Central Loop ($7,915), the Mag Mile ($5,052), the East Central Loop ($4,542), the West Central Loop ($4,079) and the Central Loop ($2,764) 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 Chicago neighborhoods.

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 neighborhoods in Chicago

Which neighborhoods pay the highest state income taxes in Chicago?

RankingCommunitiesZipAverage State Income Tax IncreaseTotal Returns filed by Zip
1Loop (South Central)60604$7,915659
2Mag Mile60611$5,05217,771
3Loop (East Central)60603$4,5421,316
4Loop (West Central)60606$4,0792,408
5Loop (Central)60602$2,7641,386
6Lincoln Park60614$2,54935,054
7Loop (North Central)60601$2,5067,069
8River North60654$2,19311,007
9Gold Coast60610$1,98620,883
10South Loop60605$1,53212,069
11West Loop60661$1,4656,141
12West Loop/Little Italy60607$1,42412,313
13Lake View60657$1,38939,724
14Wrigleyville / Buena Park60613$1,16927,816
15Wicker Park / Ukrainian Village60622$1,12726,559
16Edgebrook/ Jefferson Park60646$96512,868
17Edison Park / Norwood Park60631$81114,667
18Roscoe Village / North Center60618$80741,481
19Mt. Greenwood60655$78213,442
20Uptown / Andersonville60640$77532,406
21Logan Square / Bucktown60647$75839,953
22Hyde Park / Kenwood60615$70216,389
23Lincoln Square / Ravenswood60625$64734,142
24Douglas / Near South Side60616$63322,485
25Edgewater60660$62520,498
26Beverly / Morgan Park60643$59920,535
27Union Ridge / O'Hare60656$59414,044
28Jefferson Park / Forest Glen60630$56925,795
29West Rogers Park / West Ridge60645$55919,192
30Hyde Park / Woodlawn60637$55515,214
31Garfield Ridge / Clearing60638$54625,906
32Near West Side / East Garfield Park60612$53812,495
33Rogers Park60626$50321,168
34North Park60659$49816,450
35Old Irving Park / Portage Park60641$48131,837
36Dunning / Belmont Heights60634$47136,270
37Ashburn60652$46617,569
38Oakland / Bronzeville60653$45810,515
39Hegewisch / South Deering60633$4454,981
40Lower West Side / Pilsen60608$42527,697
41Back of the Yards / Canaryville60609$36921,483
42South Chicago / Calumet Heights60617$34829,243
43Chicago Lawn / West Lawn60629$33942,644
44South Shore60649$33815,303
45Chatham / Greater Grand Crossing60619$32523,287
46Archer Heights / Brighton Park60632$32233,814
47Belmont Cragin / Belmont Central60639$31635,026
48Roseland / West Pullman60628$29924,029
49Auburn Gresham60620$29724,548
50Humboldt Park60651$28622,860
51Little Village / North Lawndale60623$27228,327
52Austin60644$26415,483
53West Garfield Park60624$24611,529
54West Englewood60636$22311,522
55Englewood60621$2198,718

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
1Mag Mile60611$89,776,628
2Lincoln Park60614$89,363,243
3Lake View60657$55,166,864
4Gold Coast60610$41,464,448
5Roscoe Village / North Center60618$33,470,510
6Wrigleyville / Buena Park60613$32,519,087
7Logan Square / Bucktown60647$30,275,558
8Wicker Park / Ukrainian Village60622$29,942,582
9Uptown / Andersonville60640$25,113,993
10River North60654$24,134,889
11Lincoln Square / Ravenswood60625$22,080,031
12South Loop60605$18,490,028
13Loop (North Central)60601$17,718,109
14West Loop/Little Italy60607$17,531,637
15Dunning / Belmont Heights60634$17,073,445
16Old Irving Park / Portage Park60641$15,309,590
17Jefferson Park / Forest Glen60630$14,681,648
18Chicago Lawn / West Lawn60629$14,465,416
19Douglas / Near South Side60616$14,231,523
20Garfield Ridge / Clearing60638$14,133,399
21Edgewater60660$12,811,475
22Edgebrook/ Jefferson Park60646$12,419,815
23Beverly / Morgan Park60643$12,300,855
24Edison Park / Norwood Park60631$11,899,044
25Lower West Side / Pilsen60608$11,770,002
26Hyde Park / Kenwood60615$11,506,045
27Belmont Cragin / Belmont Central60639$11,079,495
28Archer Heights / Brighton Park60632$10,876,547
29West Rogers Park / West Ridge60645$10,732,141
30Rogers Park60626$10,643,114
31Mt. Greenwood60655$10,508,203
32South Chicago / Calumet Heights60617$10,180,307
33Loop (West Central)60606$9,821,771
34West Loop60661$8,997,203
35Hyde Park / Woodlawn60637$8,440,728
36Union Ridge / O'Hare60656$8,348,793
37North Park60659$8,196,044
38Ashburn60652$8,179,944
39Back of the Yards / Canaryville60609$7,922,087
40Little Village / North Lawndale60623$7,718,736
41Chatham / Greater Grand Crossing60619$7,574,315
42Auburn Gresham60620$7,288,777
43Roseland / West Pullman60628$7,179,547
44Near West Side / East Garfield Park60612$6,721,303
45Humboldt Park60651$6,530,496
46Loop (East Central)60603$5,977,289
47Loop (South Central)60604$5,215,773
48South Shore60649$5,170,044
49Oakland / Bronzeville60653$4,813,700
50Austin60644$4,093,767
51Loop (Central)60602$3,830,784
52West Garfield Park60624$2,836,156
53West Englewood60636$2,570,731
54Hegewisch / South Deering60633$2,218,156
55Englewood60621$1,912,212

TOTAL

$895,228,027

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

*Assumes tax increase will meet Senate Democrats' projections.

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