Community Corner
How Many Millionaires Live in Barnstable
One in every 886 Barnstable 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 886 taxpayers in Barnstable 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.
Find out what's happening in Barnstable-Hyannisfor free with the latest updates from Patch.
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.Â
Barnstable's number of millionaire filers is ranked 105th out of 351 cities and towns, with one millionaire filer per every 886 residents. The average reported income for every millionaire filer was approximately $2.9 million.
Find out what's happening in Barnstable-Hyannisfor free with the latest updates from Patch.
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.Â
Just for fun: what would you do with $1 million? Tell us in the comments.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.