We now know what our neighbors pay in state taxes, thanks to CALmatters

in Community/Featured/Headline

Want to know what the Atherton residents pay on average in state taxes?

Not surprisingly, it’s quite a bit. Given that those living within the 94027 zipcode make on average $1.7 million in income, they on average contribute more than any other residential zipcode in California to the state’s coffers, according to a study by CALmatters that used data from the state’s Franchise Tax Board.

“The state’s Franchise Tax Board breaks down personal income tax collections and total tax liability by ZIP code,” according to KQED’s report on the study. “For the 2018 filing year, CALmatters took one step further: We’ve figured out, for each of those areas, what the typical tax filer made and paid.”

Silicon Valley cities and towns ranked high on the list in state income tax contributions. The Los Altos zipcode of 94023 came in second on the list with a $1.64 million average income, translating into $183,080 in state taxes. Another Los Altos zipcode, 94022, came in 18th with a $693,436 average income ($63,233 on average per taxpayer).

Palo Alto came in sixth ($1,039,991, $111,415), and five San Francisco zipcodes made the top 25.

A list of the top 25 contributors, bottom 25 contributors and a navigable map of zipcodes can be accessed at KQED here.

Here are figures for Redwood City and neighboring communities:

94063 (Redwood City): $82,000 average income, $4,532 average tax liability

94062 (Redwood City): $388,275 average income, $38,168 average tax liability

94061 (Redwood City): $132,135 average income, $8,465 average tax liability

94070 (San Carlos): $233,062 average income, $17,923 average tax liability

94025 (Menlo Park): $392,266 average income, $38,374 average tax liability

94002 (Belmont): $180,632 average income, $12,677 average tax liability

94404 (San Mateo): $160,853 average income, $10,740 average tax liability

94402 (San Mateo): $214,212 average income, $17,075 average tax liability

94403 (San Mateo): $199,167 average income, $21,611 average tax liability

94010 (Burlingame): $358,106 average income, $34,038 average tax liability

94019 (Half Moon Bay): $140,977 average income, $9,589 average tax liability

94019 (Portola Valley): $693,436 average income, $70,083 average tax liability

94305 (Stanford): $173,214 average income, $13,817 average tax liability

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