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This figure marks a significant increase over the previous year, when Business District Tax collection stood at $266,085.
The Business District Tax is an additional levy within certain business districts, designed to help fund improvements and services in those areas. The tax rate and its use can vary significantly based on the specific needs of each district. It's common for this tax to be adjusted periodically to reflect changing requirements for district development and maintenance.
A 2025 WalletHub study found that Illinois has the highest overall taxes in the U.S., with rates more than 50% higher than the national average. The study estimates that a median household in Illinois pays an effective tax rate of 16.58%, or about $13,099 per year.
| Year | Amount Collected | % Change from Previous Year |
|---|---|---|
| 2024 | $296,996 | 11.6% |
| 2023 | $266,085 | -15.3% |
| 2022 | $314,331 | 13.6% |
| 2021 | $276,792 | 45% |
| 2020 | $190,897 | - |
