Mike Monson using the town of Urbana states it’ll cost them $85,000, and Shaun Hamilton with Champaign states it’ll cost them $367,000 in a single year. But Champaign officials ready for funding cuts to local governments, so Hamilton states the town put aside a reserve to pay for losing.
CHAMPAIGN, Ill. (AP) – Thousands of sales-tax dollars collected in your area will stay in Illinois’ condition coffers rather of creating their long ago home.
The Illinois Department of Revenue estimates the charge will add up to $60 million each year for that condition.
This News-Gazette reports that Illinois’ new budget includes a new tax-collection fee. Which means that 2 percent of certain local tax dollars collected through the condition with respect to municipalities and counties is going to be used in the condition.