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McLean County Times

Saturday, November 23, 2024

Analysis: Proposed K-12 budget would cost McLean County residents $107M more in income taxes

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McLean County residents would pay $106,879,245 more in state income taxes if the state agrees to increase school funding by $7.2 billion, according to a McLean County Times analysis of Illinois Department of Revenue data.

Superintendent Tony Smith called for increasing K-12 public schools funding to $50 billion next year, or $27,000 per student. Smith hasn’t said where he expects the new money to come from.

The state raised income taxes by 32 percent just six months ago, in part to fund a new school spending plan. If the superintendent's plan goes through unchanged, Hudson residents would see the largest average increase in McLean County at $1,839 per household.

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How much more will your community pay?

CityZipCurrent income taxIncome tax under proposed planIncrease by zip codeAverage household increase
Hudson61748$6,880,500$9,321,434$2,440,934$1,839
Bloomington61705$28,908,000$39,163,433$10,255,433$1,736
Bloomington61704$78,210,000$105,955,864$27,745,864$1,619
Towanda61776$2,927,856$3,966,546$1,038,690$1,550
Downs61736$3,309,703$4,483,857$1,174,154$1,372
Carlock61725$2,785,783$3,774,071$988,288$1,316
Stanford61774$1,606,073$2,175,846$569,773$1,252
Lexington61753$4,629,619$6,272,028$1,642,409$1,183
Heyworth61745$6,484,500$8,784,948$2,300,448$1,173
Le Roy61752$6,583,500$8,919,070$2,335,570$1,169
Gridley61744$3,041,429$4,120,409$1,078,980$1,168
Campus60920$259,421$351,453$92,032$1,165
Danvers61732$3,174,262$4,300,366$1,126,104$1,144
Strawn61775$479,554$649,681$170,127$1,127
Ellsworth61737$783,868$1,061,954$278,086$1,117
Flanagan61740$2,173,629$2,944,748$771,119$1,116
Normal61761$57,420,000$77,790,381$20,370,381$1,114
Graymont61743$362,857$491,584$128,727$1,100
Fairbury61739$7,128,000$9,656,737$2,528,737$1,082
Colfax61728$1,866,081$2,528,094$662,013$1,069
Long Point61333$498,027$674,707$176,680$1,064
Emington60934$338,473$458,550$120,077$1,053
Arrowsmith61722$720,308$975,845$255,537$1,030
Anchor61720$306,299$414,962$108,663$1,025
Mc Lean61754$1,678,985$2,274,624$595,639$1,022
Cornell61319$1,628,581$2,206,338$577,757$1,015
Ancona61311$323,174$437,823$114,649$1,015
Cooksville61730$473,449$641,410$167,961$1,012
Bellflower61724$621,114$841,461$220,347$1,011
Forrest61741$2,163,061$2,930,431$767,370$999
Blackstone61313$336,707$456,158$119,451$995
Dwight60420$6,286,500$8,516,706$2,230,206$988
Chenoa61726$3,360,115$4,552,153$1,192,038$968
Shirley61772$523,873$709,723$185,850$968
Odell60460$1,832,062$2,482,006$649,944$961
Pontiac61764$15,196,500$20,587,627$5,391,127$936
Chatsworth60921$1,671,475$2,264,449$592,974$928
Bloomington61701$41,283,000$55,928,602$14,645,602$920
Cullom60929$842,613$1,141,540$298,927$884
Saybrook61770$1,281,423$1,736,023$454,600$873
Cropsey61731$264,193$357,918$93,725$860
Saunemin61769$626,484$848,736$222,252$836

Total$106,879,245

Sources: Illinois Department of Revenue; Blockshopper.com; Illinois State Board of Education

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