Quantcast

McLean County Times

Sunday, November 24, 2024

Bloomington responsible for 8th-highest sales tax revenue in Illinois during January

Webp david harris 3

Director David Harris | Illinois Department of Revenue

Director David Harris | Illinois Department of Revenue

Bloomington taxpayers paid the eighth largest sum in sales taxes per municipality in January, according to Illinois tax records.

In total, Bloomington residents paid $5.2 million in sales taxes during January.

Bloomington ranked ninth in the Prairie State the month before, with $4.2 million spent in sales taxes.

The Municipal Home Rule Sales Tax accounted for the largest share of sales taxes paid by Bloomington residents in January.

In Illinois, the Municipal Home Rule Sales Tax applies to a broad range of general merchandise. It operates similar to the state sales tax, but excludes certain items like vehicles and specific foods, drugs, and medical appliances that require state agency titling or registration. While this tax can be set in small increments with no maximum limit, it's important to note that not all municipalities choose to implement it. The revenue generated is destined to local services and infrastructure needs.

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 Bloomington in January
Municipal Home Rule Sales Tax [57.4%]Municipal Sales Tax [42.4%]Municipal Automobile Renting Tax [0.2%]

Sales Taxes Collected in Bloomington in January
Type of TaxAmount Collected in Month% Change From Previous Month
Municipal Home Rule Sales Tax$2,970,25616.5
Municipal Sales Tax$2,193,21430.9
Municipal Automobile Renting Tax$9,120-2.5

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS