State Reports on Median Income for 2007 - Four Bay Area counties have led California for 36 years
Released: April 29, 2009
Sacramento –The statewide median income for all personal income tax returns rose to $35,646 (0.72 percent over 2006), while the median income listed on joint returns rose to $68,797 (2.97 percent over 2006) according to statistics released today by the Franchise Tax Board (FTB).
Four Bay Area counties again top California’s 2007 median income report. Contra Costa, Marin, San Mateo, and Santa Clara counties have consistently reported the highest median incomes.
“Median income” is the point where one-half of the tax returns are above and one-half are below the midpoint of the range of values. Median income represents the income reported by a typical California individual or couple.
California taxpayers filed 15.76 million 2007 state income tax returns reporting $1.2 trillion in adjusted gross income, a 1.4 percent increase over 2006 figures. Adjusted gross income is a figure taken from tax returns that reports total income after specific tax deductions are subtracted.
Marin County still has the highest median income for joint returns at $123,463, an increase of 5.9 percent over 2006. San Mateo County ranked second with $100,413, Santa Clara County ranked third with $99,526, Contra Costa County ranked fourth with $91,043, and El Dorado County ranked fifth with $81,487.
Los Angeles County taxpayers filed 25.5 percent of all 2007 income tax returns in California. They reported median incomes of $31,187 for all returns, and $59,389 for joint returns, ranking 38th and 30th, respectively. The largest percentage gain in median income for all counties was 4.7 percent, reported in San Francisco County. The largest increase in joint filings was also in San Francisco County with an 8.1 percent increase.