According to the Daily Herald report, “Only seven suburbs — Antioch, Barrington, Barrington Hills, Fox River Grove, Hanover Park, Lindenhurst and Volo — saw a decline in sales tax revenue between the state’s 2022 and 2023 fiscal years…”
By Jake Griffin | Daily Herald
Suburban shoppers haven’t let rising costs slow their spending.
That’s according to a Daily Herald analysis of Illinois Department of Revenue figures that show growth of municipal sales tax revenues in 92 suburbs collectively outpaced the inflation rate.
IDOR data shows that sales tax revenues for those suburbs climbed a combined 6.2% during the state’s most recent fiscal year, which ran from July 2022 through June 2023. During that same period, the inflation rate rose by 3%, according to the U.S. Bureau of Labor Statistics. In 28 suburbs, sales tax revenues grew by more than 10%.
Winfield’s sales tax receipts grew by 121.3% last year, but that was largely due to a quarter-cent hike in the village’s sales tax rate and the addition of an Amazon distribution center to town.
“There’s not a shortage of places we could use the additional sales tax dollars,” said Curt Barrett, village manager. “That includes a new village hall. We just had a sewer line burst in the basement, so a lot of people were holding their noses while we worked.”
Winfield is now generating more than $2.8 million in sales taxes, up 427.8% from a decade prior, records show. Barrett said the additional revenue has largely gone to police pensions and road work.
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