UP Has More Rich Folks Than HP

My headline is an over-simplification of an article in today’s Dallas Morning News, in which Dave Michaels analyzes the impact of a bill that would raise the tax rate for individuals with incomes greater than $200,000 and couples with incomes greater than $250,000. Here’s the part of the article that caught my attention:

Most of Dallas County wouldn’t see a tax hike under the bill. But the county’s wealthier enclaves would feel it.

In the 75205 ZIP code – which roughly covers Highland Park – nearly 30 percent of taxpayers reported income above $200,000. In the 75225 ZIP code, which covers part of University Park and North Dallas, the amount is 35 percent.

According to Michaels’ analysis of IRS data, the statewide percentage is 2.8.

By Dan Koller Dec. 2, 2010 | 7:47 am | 4 Comments | Comments RSS
4 comments to "UP Has More Rich Folks Than HP"
  1. A. B. @ December 2, 2010 at 9:08 am
    My guess is that a lot of HP has high net-worth individuals whose incomes aren’t necessarily in the standard form of income (wages). I didn’t read the full article so don’t know what they included as ‘reported income’.

    Also, about 1/2 of UP, everything south of Lovers Lane, is in 75205. In other words, only 1/2 of UP is even in 75225.

  2. Charles @ December 2, 2010 at 10:13 am
    I think A.B. is right: it’s all about what constitutes “income.”

  3. M @ December 2, 2010 at 1:43 pm
    Reported income will jump after tax dodgers repatriate their Swiss bank accounts.

  4. Gringo Bling @ December 2, 2010 at 2:17 pm
    And this is taxable income. Any income from tax free municipal bonds would not count in this category.

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