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.

 

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