BOSTON — The newest data from the Massachusetts Department of Revenue shows Boston has the most residents reporting over a million dollars in income, though many cities and towns made the list.
The DOR just completed its report on million-dollar-or-more earners in the Commonwealth and where those taxes were filed in the year 2017.
Boston has the most reported incomes -- which includes wages, dividends, alimony, capital gains, business income, retirement distributions, and other income -- over $1 million annually, with 2,523 tax income reports. That could include individuals or couples filing joint tax returns with collective income.
The data includes gross reported income from each town with more than five filings, which can be divided by the number of filers to determine an average income per filer. Norwood had the highest average gross income based on the number of filers and the town’s gross reported income, with the town’s income averaging to $16 million per filing.
Towns with a darker shade of blue have more filings, lighter blue towns have fewer. Towns not on the map have five or fewer and possibly zero.
In 2016, 18,130 filings were reported. That number rose to 20,414 in the year 2017.
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