Like the Barenaked Ladies said in their hit song, “If I Had Million Dollars…
…I’d be one of 197 taxpayers in Hingham 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.
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.
Hingham’s number of millionaire filers is ranked 15th out of 351 cities and towns in the state, with one millionaire filer per every 112 residents. The average reported income for every millionaire filer was approximately $2.5 million.
Hingham ranks higher than its neighboring town. On the South Shore, Milton has 123 millionaires, Cohasset has 99, Duxbury has 83, Norwell has 73, Marshfield has 38, Scituate has 37, Braintree has 30, Weymouth and Hull have 7, and Rockland has 3.
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.
Just for fun: what would you do with $1 million? Tell us in the comments.