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Kane County Reporter

Friday, November 22, 2024

Analysis: Proposed K-12 budget would cost Kane County residents $261M more in income taxes

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Kane County residents would pay $261,302,936 more in state income taxes if the state agrees to increase school funding by $7.2 billion, according to a Kane County Reporter 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, Wayne residents would see the largest average increase in Kane County at $3,374 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
Wayne60184$11,335,500$15,356,894$4,021,394$3,374
St Charles60175$81,180,000$109,979,505$28,799,505$2,630
Geneva60134$77,220,000$104,614,651$27,394,651$1,985
Sugar Grove60554$26,730,000$36,212,764$9,482,764$1,727
St Charles60174$73,755,000$99,920,404$26,165,404$1,709
Elgin60124$46,728,000$63,305,276$16,577,276$1,706
Elburn60119$22,176,000$30,043,182$7,867,182$1,665
Big Rock60511$3,946,740$5,346,889$1,400,149$1,636
Batavia60510$61,380,000$83,155,235$21,775,235$1,608
Wasco60183$304,208$412,129$107,921$1,520
Gilberts60136$13,266,000$17,972,261$4,706,261$1,487
Dundee60118$32,620,500$44,192,984$11,572,484$1,469
Burlington60109$1,320,531$1,789,004$468,473$1,394
North Aurora60542$29,353,500$39,766,979$10,413,479$1,312
Hampshire60140$27,373,500$37,084,552$9,711,052$1,302
La Fox60147$311,803$422,419$110,616$1,301
South Elgin60177$36,184,500$49,021,352$12,836,852$1,277
Maple Park60151$6,336,000$8,583,766$2,247,766$1,187
Kaneville60144$293,058$397,023$103,965$1,009
Aurora60506$54,945,000$74,437,348$19,492,348$874
Elgin60123$52,470,000$71,084,314$18,614,314$867
Carpentersville60110$38,412,000$52,039,083$13,627,083$834
Mooseheart60539$110,481$149,675$39,194$817
Aurora60505$38,808,000$52,575,568$13,767,568$575

Total$261,302,936

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

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