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ZIP Code 02725 Income and Tax Statistics

Somerset, MA. Individual income tax returns for tax year 2022, from IRS Statistics of Income

Tax returns
1,360
2,300 people on returns
Average adjusted gross income
$77,802
Massachusetts $119,653
Average salaries and wages
$68,198
Returns with wages
Average income tax
$10,740
Massachusetts $24,841

Returns by adjusted gross income

Returns with negative income are not included

  • $1 to $24,99931022.8%
  • $25,000 to $49,99929021.3%
  • $50,000 to $74,99923016.9%
  • $75,000 to $99,99917012.5%
  • $100,000 to $199,99929021.3%
  • $200,000 or more705.1%

Income, credits and taxes in 02725

Returns that reported each item, the total amount and the average for those returns

Swipe the table sideways to see more columns.

ItemReturnsShare of returnsTotalAverage
Salaries and wages1,11081.6%$75.7M$68,198
Business or professional income17012.5%$2.35M$13,835
Net capital gains20014.7%$2.2M$11,005
Taxable pensions and annuities34025.0%$10.3M$30,285
Taxable Social Security benefits28020.6%$4.05M$14,464
Itemized deductions1309.6%$3.57M$27,485
Earned income tax credit1007.4%$184K$1,840
Refundable child tax credit604.4%$104K$1,733
Income tax after credits1,08079.4%$11.6M$10,740
Refunds94069.1%$2.36M$2,514

Frequently asked questions

What is the average income in ZIP code 02725?
For tax year 2022, the average adjusted gross income on the 1,360 individual tax returns filed in 02725 was $77,802, compared with $119,653 for Massachusetts.
How many people in 02725 get the earned income tax credit?
100 returns in 02725 (7.4%) claimed the earned income tax credit for tax year 2022.
Why might these numbers differ from Census income figures?
IRS figures count tax returns, not households, and use adjusted gross income from the return. People who do not file a return are not included.

Source: Internal Revenue Service, Statistics of Income · Tax year 2022