Quantcast

Approximately $1.2 million in Municipal Sales Tax collected in 2024 for Peotone

 
Webp david harris 4
Approximately $1.2 million in Municipal Sales Tax collected in 2024 for Peotone
Director David Harris | Illinois Department of Revenue

Peotone taxpayers paid approximately $1.2 million in Municipal Sales Tax in 2024, according to Illinois tax records.

This figure marks a noticeable increase over the previous year, when Municipal Sales Tax collection stood just under $1.2 million.

In Illinois, municipal sales taxes, usually set at 1%, are added to the state sales tax of 5% and a county tax of 0.25%, resulting in a combined state tax rate of 6.25%. These taxes can vary locally and are used to address municipal needs such as infrastructure, public services, and community development. The revenue generated is destined to fund local government operations, public safety, education, and other community projects.

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.

Municipal Sales Tax Collected in Peotone Over Last 7 Years
YearAmount Collected% Change from Previous Year
2024$1,214,8761.9%
2023$1,191,7183.5%
2022$1,151,6734.5%
2021$1,101,77115.2%
2020$956,7433%
2019$928,5262.5%
2018$906,285-