Director David Harris | Illinois Department of Revenue
Director David Harris | Illinois Department of Revenue
In total, Lake Zurich residents paid $871,719 in sales taxes during October 2023.
Lake Zurich ranked 75th in the Prairie State the month before, with $1.1 million spent in sales taxes.
The Municipal Sales Tax accounted for the largest share of sales taxes paid by Lake Zurich residents in October 2023.
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.
| Type of Tax | Amount Collected in Month | % Change From Previous Month |
|---|---|---|
| Municipal Sales Tax | $655,570 | -24.4 |
| Non-Home Rule Sales Tax | $215,249 | -20.8 |
| Municipal Automobile Renting Tax | $901 | -41.3 |
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