Village Braces for State's Tax Hikes

Bad for business, bad for your pocketbook. That's the prevailing view among Evergreen Park residents, officials and business owners asked about the state's tax hikes.

Many Evergreen Park residents, government officials and business owners are wondering the effect the state's newly passed tax hikes will have in already tough economic times. The General Assembly passed a 66 percent income tax hike Wednesday, increasing the personal income tax from 3 to 5 percent and the corporate income tax to 7 percent from 4.9 percent. Both increases will go into effect immediately after the governor signs them into law. For a household making $60,000 per year, income tax would rise to $3,000, up from the $1,800 the household would have paid before the tax hike. “I don’t like it. I mean, who does?” said Laura Brown who lives in the neighborhood and has children attending school in Evergreen Park Elementary School …

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