Two local REALTOR associations in southern Illinois say the results of an economic impact study show that the Land of Lincoln is still very competitive as a place to live and work.
The study, which was commissioned on behalf of the REALTOR® Association of Southwestern Illinois and the Greater Gateway Association of REALTORS®, found that in the St. Louis area the advantages of living in Illinois or Missouri were essentially a wash when reviewing major tax categories.
Illinois REALTORS® Local Government Affairs Director Kyle Anderson said the study looked at sales, property and income taxes, and compared how residents in various income categories would fare in each state.
He told the Alton Telegraph:
“The biggest thing that we want to get across is, we don’t believe, as a result of the study, that taxes are as big of an issue — when you think about the regional competition — as everybody believes it to be.”
The study found, as many might expect, that property taxes were substantially higher on the Illinois side of the river. But those taxes were largely offset by a lower income tax in Illinois earnings taxes in St. Louis.
The study was carried out by John Foster, an analyst for Southern Illinois University Edwardsville’s Department of Public Administration and Policy Analysis. The study can be found here.