New State Service Fee Could Cost Local Municipalities Big Money

Will County city’s and village’s will be looking at a reduction in money coming from the state of Illinois after state legislators added a new “service fee” in the state budget that was enacted in early July. Beginning in the Fiscal Year of 2018, 2% of sales taxes collected on behalf of municipalities by the state will be transferred to the Tax Compliance and Administrative Fund. The 2% administration fee is just on the non-home rule sales tax for capital purposes only.  The following numbers show just how much money some Will County municipalities will be losing as a result of the new fee.

Joliet: $500,000

Lockport: $30,000

Channahon: $18,000

Crest Hill: $40,000

Bolingbrook: $400,000

WJOL is still in the process of collecting data from other Will County city’s and village’s to show the financial impact of the new state service fee.

 

SHARE

RELATED CONTENT

Rockdale Woman Dies in Early Friday Crash Moody’s Holds Illinois’ Credit Steady Tests Show Legionella At Another State Capitol Building Old Joliet Prison Opens For Tours Next Month Registration for Valley View School District To Start July 30th Red Cross On The Scene Of Wednesday Apartment Fire In Bolingbrook
Comments