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DeKalb Times

Thursday, November 21, 2024

Analysis: Proposed K-12 budget would cost DeKalb County residents $40M more in income taxes

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DeKalb County residents would pay $39,967,910 more in state income taxes if the state agrees to increase school funding by $7.2 billion, according to a DeKalb 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, Clare residents would see the largest average increase in DeKalb County at $1,270 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
Clare60111$458,232$620,795$162,563$1,270
Sycamore60178$33,907,500$45,936,561$12,029,061$1,170
Malta60150$2,617,359$3,545,896$928,537$1,168
Somonauk60552$6,484,500$8,784,948$2,300,448$1,163
Hinckley60520$4,200,094$5,690,124$1,490,030$1,143
Kingston60145$3,525,790$4,776,603$1,250,813$1,112
Waterman60556$2,628,714$3,561,279$932,565$1,050
Genoa60135$9,751,500$13,210,953$3,459,453$1,039
Shabbona60550$1,703,680$2,308,079$604,399$994
Kirkland60146$3,180,619$4,308,978$1,128,359$985
Cortland60112$5,197,500$7,041,371$1,843,871$938
Dekalb60115$39,006,000$52,843,811$13,837,811$882

Total$39,967,910

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

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