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Latest filings show California's median income rose in 2006
By Mark Glover - mglover@sacbee.com
Last Updated 3:38 pm PDT Friday, April 25, 2008
Median income for all personal income tax returns in California rose to $35,390 in 2006, a 3.7 percent gain over 2005, according to statistics released Friday by the state Franchise Tax Board.
The FTB said 2006 median income rose even higher among those filing joint returns -- to $66,810, a 5.1 percent hike over the median from joint returns filed for 2005.
"Fifty-seven out of 58 counties reported income growth in 2006, a year when consumer spending was up and unemployment remained low in California," said state Controller and FTB Chairman John Chiang. The data are the most recent available.
Four Bay Area counties again topped California's 2006 median income report, with Marin County ranking No. 1 in median income -- at $51,720 -- among all returns filed in the state. Marin also had the highest median income for joint returns, reporting $116,626, an increase of 8.1 percent over 2005.
Regionally, El Dorado County ranked fifth statewide among all returns filed, with a 2006 median income of $45,487. El Dorado was seventh statewide in joint filings, with a median of $78,489.
Sacramento County ranked 20th among all returns ($36,306) and for joint filings ($66,247). Placer County ranked sixth in all 2006 filings ($44,034) and joint filings ($78,652). Yolo County was 23rd among all filings ($35,808) and 16th among joint filings ($69,779).
Median income is the point at which half of tax returns are above and half are below that point of the range of values.
The FTB said California taxpayers filed 15.1 million 2006 state income tax returns, reporting $1.2 trillion in adjusted gross income, a 9.4 percent increase over 2005. Adjusted gross income is total income after tax deductions are subtracted.
More details of 2006 filings and a county-by-county breakdown of statistics can be found at www.ftb.ca.gov.
About the writer:
- Call The Bee's Mark Glover, (916) 321-1184.
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