How Many Millionaires Live in Northborough?
One in every 610 Northborough taxpayers reported income above $1m in 2010.
Like the Barenaked Ladies said in their hit song, "If I Had Million Dollars...
...I'd be one of 23 taxpayers in Northborough who made at least a million dollars in 2010."
OK, so those weren't the actual lyrics of the song. But they are the actual numbers in a searchable database in the Boston Business Journal.
Greater Boston’s suburbs to the west are among the state’s wealthiest, the Boston Business Journal reported, citing state tax data on millionaire filers in 2010. Weston tops the list with a millionaire filer for every 27 residents.
Northborough's number of millionaire filers is ranked 83rd out of 351 cities and towns, with one millionaire filer per every 615 filers. The average reported income for every millionaire filer was just over $2.5 million.
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There are some caveats that the Boston Business Journal noted, however. The state's millionaires include small business owners filing as S-Corporations, filers reporting one-time events such as the sale of a business or property; and joint filers, including two-income households with total combined earnings that exceed $1 million.
What would you do with $1 million? Tell us in the comments.
Hayley Brown
12:48 pm on Monday, October 29, 2012
No wonder Northborough seems to be out of sync with the way the state votes.