Overview of Illinois

State Funds Budget Data

• Estimated 2023 State Funds Budget ($ Billions): $93.11
• Budget Limit ($ Billions): $97.06
• Budget Limit Growth ($ Billions): 4.24%
• Cost per person of budgeting more than pop+inf over the last decade in 2022 budget: $3,046.08
• Cost per family of 4 of budgeting more than pop+inf over the last decade in 2022 budget: $12,184
• Cumulative cost per person of budgeting more than pop+inf over the last decade: $8,367.36
• Cumulative cost per family of 4 of budgeting more than pop+inf over the last decade: $33,469.45

State All Funds Budget Data

• Estimated 2023 All Funds Budget ($ Billions): $127.69
• Budget Limit ($ Billions): $133.10
• Budget Limit Growth ($ Billions): 4.24%
• Cost per person of budgeting more than pop+inf over the last decade in 2022 budget: $11,221.84
• Cost per family of 4 of budgeting more than pop+inf over the last decade in 2022 budget: $44,887
• Cumulative cost per person of budgeting more than pop+inf over the last decade: $29,712.40
• Cumulative cost per family of 4 of budgeting more than pop+inf over the last decade: $118,849.58

Other Considerations

• Economic Freedom (2020) (Rank): 34 [Fraser Institute]
• State Tax Collections Per Capita (FY2021) ($): $4,382 [Tax Foundation]
• State Tax Collections Per Capita (FY2021) (Rank): 11 [Tax Foundation]
• State-Local Total Tax Burden per Capita (2022) ($): $8,390 [Tax Foundation]
• State-Local Tax Burden per Capita (2022) (%): 12.90% [Tax Foundation]
• State-Local Tax Burden per Capita (2022) (Rank): 44 [Tax Foundation]
• Top Income Tax Rate (2023) (%): 4.95% [Tax Foundation]
• Top Income Tax Rate (2023) (Rank): 23 [Tax Foundation]
• Flat or Progressive Income Tax (2023) (Flat/Progressive/Zero): F [Tax Foundation]
• Overall State Business Tax Climate Index (2023)(Rank): 36 [Tax Foundation]
• Corporate Income Top Tax Rate (2023) (%): 9.50% [Tax Foundation]
• Corporate Income Top Tax Rate (2023) (Rank): 3 [Tax Foundation]
• State-Local Sales Tax Rate (2023) (%): 8.82% [Tax Foundation]
• State-Local Sales Tax Rate (2023) (Rank): 8 [Tax Foundation]
• Property Taxes Paid as a Percentage of Owner-Occupied Housing Value (2021) (%): 2.08% [Tax Foundation]
• Property Taxes Paid as a Percentage of Owner-Occupied Housing Value (2021) (Rank): 2 [Tax Foundation]
• Tax and Expenditure Limit (0-3): 0 [American Legislative Exchange Council]
• Tax and Expenditure Limit (Rank): 32 [American Legislative Exchange Council]
• Right-to-Work Law (2022) (Y/N): N [American Legislative Exchange Council]
• State-Local Spending per Capita (2022) ($): $14,138 [US Government Spending]
• State-Local Spending per Capita (2022) (Rank): 35 [US Government Spending]
• Official Poverty Rate (2020-22) (%): 9.4 [Census Bureau]
• Official Poverty Rate (2020-22) (Rank): 18 [Census Bureau]
• Supplemental Poverty Rate (2020-22) (%): 7.9 [Census Bureau]
• Supplemental Poverty Rate (2020-22) (Rank): 20 [Census Bureau]
• Labor Force Participation Rate (Dec. 2022) (%): 64.50% [Bureau of Labor Statistics]
• Labor Force Participation Rate (Dec. 2022) (Rank): 16 [Bureau of Labor Statistics]