Politics & Government

Lake Forest Could Lose $222K Under Quinn's Proposal

Gov. Pat Quinn has proposed to freeze state income taxes shared with local municipalities to generate an additional $68 million for the state budget.

Gov. Pat Quinn has proposed Illinois strengthen its troubled finances by freezing state income taxes shared with local municipalities at 2012 levels, reported the Chicago Tribune.

It's a move that could cause Lake Forest to lose between $102,000 and $222,000. Lake Bluff could lose between $30,000 and $65,000.

This is based on 2010 U.S. Census numbers and state calculations showing the impact to local budgets would be $5.30 per resident, and estimations from the Illinois Municipal League that reflect the impact would be $11.50 per resident, according to the Chicago Tribune.

Find out what's happening in Lake Forest-Lake Bluffwith free, real-time updates from Patch.

For the full story visit: www.ChicagoTribune.com.

Here's a look at how Quinn's proposal would impact neighboring Lake County communities.

Find out what's happening in Lake Forest-Lake Bluffwith free, real-time updates from Patch.

Town

Population Based on 2010 Census

Impact Based on State Calculation of $5.30/ Resident

Impact Based on IML Calculation of $11.50/ Resident

Libertyville

20,315

$107,669

$233,622

Vernon Hills

25,113

$133,098

$288,799

Grayslake

20,957

$111,072

$241,005

Lake Zurich

19,631

$54,733

$118,760

Deerfield

18,225

$96,592

$209,587

Lake Bluff

5,722

$30,326

$65,803

Lake Forest

19,375

$102,687

$222,812

Highland Park

29,763

$157,743

$342,274

Buffalo Grove 41,496 $219,928 $477,204 Barrington 10,327 $54,733 $118,760


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