Couples’ Adjusted Gross Income In Virginia Is Sliding
September 20, 2004 --
The ebb in the fortunes of married couples in Virginia that
began in 2001 continued through 2002, according to a new study
tax data by the University of Virginia's Weldon Cooper Center for
median adjusted gross income for married couples rose only slightly
in current dollars, from $57,619 in 2001 to
2002, a rise of 0.5 percent. When adjusted for the 1.6 percent
inflation rate in 2002, the median adjusted gross income fell
by 1 percent, decreasing for the second straight year, according
the report co-written by senior economist John L. Knapp and research
specialist Stephen C. Kulp.
2002 the five localities with the highest median incomes of married
couples all were in Northern
Virginia: Loudoun County
($80,436), Fairfax County ($78,606), Falls Church City ($78,502),
County ($76,660), and Stafford County ($75,287). Northern Virginia
accounted for a significant portion of the state’s total
income – 42 percent of Virginians' total adjusted gross
income in 2002 – up from 36 percent a decade earlier.
five localities with the lowest incomes of married couples
in 2002 were all counties in Southwest Virginia: Lee ($29,147),
Buchanan ($30,403), Grayson ($30,781), Dickinson ($31,270),
and Russell ($31,431). About 25 percent of the couples in
counties reported incomes of less than $15,000, a figure
barely higher than the 2002 federal poverty level of $14,480
couple with one child.
U.Va. study includes an index of income concentration, which
estimates statewide income inequality.
The index is
constructed so the greater the degree of inequality, the
higher the index.
After decreases in the previous two years, the index rose
slightly last year, by 0.2 percent.
Virginia localities with the highest disparities in incomes between
low- and high-income
taxpayers in 2002
County, Williamsburg City, Richmond City, Lancaster County,
complete report, "Spotlight on Virginia:
Virginia Adjusted Gross Income, 2002," which includes
a table showing median married couple AGI and the ranking
of each city and county, is
available on the Web at:
tables showing information for each city, county,
planning district, and metropolitan area are
Charlotte Crystal, (434) 924-6858