The adjusted gross marital income in Virginia is decreasing, according to a study by the University of Virginia's Weldon Cooper Center for Public Service.
Income information released by the Virginia tax department was the main tool used in conducting the study, said Stephen C. Kulp, a research specialist who worked on the report.
The study found that the median adjusted gross income for married couples decreased for the second straight year, from $57,619 to $56,997.
Income information is released by the tax department two years behind, so the study uses data from 2002.
Kulp pointed out that the statement that the income is decreasing can be deceiving. The actual median income for married couples in Virginia increased in 2002, but it did not keep up with inflation.
Kulp said the adjusted gross income probably declined due to the stock market fall and the decrease in capital gains rates in 2001 and 2002. Kulp added these two factors also may have caused a reduced growth in income concentration -- the amount of income in a certain area.
Bill Metzger, chief economist at the Virginia Employment Commission, said salaries also may have played a part in the decrease.
"Wages in general haven't gone up in the last couple of years -- of course there has been low inflation, which probably has been a factor in the decrease of income," Metzger said.
According to a University press release, the study also found that the localities with highest median incomes are all located in northern Virginia while those with the lowest median incomes are all located in southwestern Virginia.
An index of income concentration was also included in the study, which estimates statewide inequalities. Charlottesville was cited as having one of the highest disparities of income levels.
Kulp said this disparity is different for each locality.
"In some counties you have a rural class of people being mixed with suburban people -- when you have this mix a discrepancy is ultimately formed," Kulp said.
Kulp said he believes the disparity in Charlottesville is in part a product of University students transferring their residency to Virginia, and thus lowering the income level.
Read More
Virginia General Assembly demands answers about Ryan's resignation in Aug. 1 letter
By Brendon Bordwine | 9 hours agoIn a 10-page letter obtained by The Cavalier Daily, State Sen. Creigh Deeds, D-Charlottesville, demanded written responses and documentation from University Rector Rachel Sheridan and University Vice Rector Porter Wilkinson regarding the lead up to and fallout from former University President Jim Ryan's resignation.
Weighing their place in U.Va. presidential search, students hope for leader with integrity
By Mia Tan | 2 days agoWith the search for the University’s 10th president underway, students are voicing cautious hopes for a leader who will prioritize transparency, integrity and the needs of the University community
Honor Committee discusses potential changes to its sanctioning process
By Bertie Azqueta | 3 days agoAny changes to the role of counsel could significantly affect how sanctioning is pursued by the reporter and the University community against those who committed Honor offenses.
