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This figure marks a significant decrease from the previous year, when Business District Tax collection stood at $314,331.
The Business District Tax is an additional levy within certain business districts, aimed at funding improvements and services in those areas. The rate of this tax and how it's utilized 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.
As of 2021, Illinois was the highest taxed state in the US. A study from Wallet Hub found Illinois taxes were 39.83% higher than the national average.
Illinois governor J. B. Pritzker is accused of adding more than $5.2 billion in new or higher taxes since coming into power in early 2019. As a business owner, he has a fortune of more than $3 billion, largely based on his family's wealth and connections.
| Year | Amount Collected | % Change from Previous Year |
|---|---|---|
| 2023 | $266,085 | -15.3% |
| 2022 | $314,331 | 13.6% |
| 2021 | $276,792 | 45% |
| 2020 | $190,897 | - |
