Quantcast

Lake County Gazette

Sunday, December 22, 2024

Prairie State sales taxes: Vernon Hills residents paid 39th-largest sum in March

Webp david harris 4

Director David Harris | Illinois Department of Revenue

Director David Harris | Illinois Department of Revenue

Vernon Hills taxpayers paid the 39th largest sum in sales taxes per municipality in March, according to Illinois tax records.

In total, Vernon Hills residents paid $1.6 million in sales taxes during March.

Vernon Hills ranked 31st in the Prairie State the month before, with $1.8 million spent in sales taxes.

The Municipal Sales Tax accounted for the largest share of sales taxes paid by Vernon Hills residents in March.

In Illinois, Municipal Sales Taxes, typically set at 1%, are combined with the state sales tax of 5% and a county tax of 0.25%, resulting in a total state tax rate of 6.25%. These taxes vary at local level and are aimed at diverse municipal needs, like infrastructure and public services. The revenue generated from these taxes is destined to fund local government operations, public safety, education, and community development projects.

As of 2021, Illinois was the highest taxed state in the US. A study from Wallet Hub found Illinois taxes were 39.83% higher than the national average.

Illinois governor J. B. Pritzker is accused of adding more than $5.2 billion in new or higher taxes since coming into power in early 2019. As a business owner, he has a fortune of more than $3 billion, largely based on his family's wealth and connections.

Composition of Sales Tax Revenue in Vernon Hills in March
Municipal Sales Tax [82.3%]Municipal Home Rule Sales Tax [17.7%]Municipal Automobile Renting Tax [0%]

Sales Taxes Collected in Vernon Hills in March
Type of TaxAmount Collected in Month% Change From Previous Month
Municipal Sales Tax$1,282,458-11.6
Municipal Home Rule Sales Tax$276,273-12.2
Municipal Automobile Renting Tax$8-11.1

MORE NEWS