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Lake County Gazette

Friday, April 19, 2024

Analysis: How much more will Lake Bluff residents pay in income taxes?

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Lake Bluff residents will have to pay $21,363,197 more in state income taxes if Gov. J.B. Pritzker's proposed tax hike is to generate the $10.3 billion in additional tax revenue that he has promised, according to a Lake County Gazette analysis of Illinois Department of Revenue data.

Pritzker claims the additional tax revenue will "eliminate the budget deficit."

The city in Lake County that will be the most affected by Pritzker's proposal is Lake Forest, with residents expected to pay an additional $122,615,036 in income taxes -- approximately $14,523 per person in the labor force. Russell will pay only $36,194 more in comparison, the least among Lake County cities.

The following table shows how other cities in Lake County are affected.

How much more will residents from Lake County pay on the proposal?

CityTotal Expected Income Tax burdenTotal IncreasePer Person Increase
Lake Forest$312,914,574$122,615,036$14,523
Highland Park$300,711,951$117,833,459$8,081
Lake Zurich$210,850,233$82,621,300$7,069
Deerfield$191,725,780$75,127,416$7,670
Libertyville$160,291,532$62,809,960$5,913
Buffalo Grove$130,165,142$51,004,986$2,128
Gurnee$95,022,161$37,234,270$2,096
Mundelein$90,818,354$35,587,015$2,001
Waukegan$89,541,798$35,086,799$746
Grayslake$89,141,574$34,929,972$2,825
Vernon Hills$85,274,340$33,414,603$2,344
Round Lake$84,742,377$33,206,154$3,322
Lake Villa$81,235,090$31,831,830$6,929
Lake Bluff$54,519,054$21,363,197$7,866
Antioch$49,138,238$19,254,734$2,556
Lincolnshire$46,710,312$18,303,355$6,165
Wauconda$39,668,609$15,544,076$1,998
Zion$31,994,036$12,536,808$1,092
Wadsworth$27,117,315$10,625,873$5,318
Fox Lake$16,802,220$6,583,921$1,124
Ingleside$16,064,697$6,294,924--
Winthrop Harbor$11,072,423$4,338,710$1,151
North Chicago$9,430,360$3,695,270$191
Highwood$9,363,017$3,668,882$1,291
Great Lakes$890,094$348,782--
Russell$92,367$36,194--

Per person increases have been calculated using the most recent data about people in the labor force as provided by the U.S. Census Bureau's ongoing American Community Survey.

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