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A-7 <br />Effective Buying Income <br />“Effective Buying Income” is defined as personal income less personal tax and nontax <br />payments, a number often referred to as “disposable” or “after-tax” income. Personal income is <br />the aggregate of wages and salaries, other labor-related income (such as employer contributions <br />to private pension funds), proprietor’s income, rental income (which includes imputed rental <br />income of owner-occupants of non-farm dwellings), dividends paid by corporations, interest <br />income from all sources, and transfer payments (such as pensions and welfare assistance). <br />Deducted from this total are personal taxes (federal, state and local), nontax payments (fines, <br />fees, penalties, etc.) and personal contributions to social insurance. According to U.S. <br />government definitions, the resultant figure is commonly known as “disposable personal income.” <br />The following table summarizes the median household effective buying income for the <br />City, the County, the State and the United States for the period 2020 through 2024. <br />CITY OF REDWOOD CITY AND SAN MATEO COUNTY <br />Median Household Effective Buying Income <br />2020 through 2024 <br />2020 2021 2022 2023 2024 <br />City of Redwood City $91,293 $98,992 $119,245 $121,229 $120,804 <br />San Mateo County 96,614 102,641 120,425 123,273 119,658 <br />California 65,870 67,956 77,058 77,175 80,973 <br />United States 55,303 56,790 64,448 65,326 67,876 <br />Source: Claritas, LLC. <br />8.A. - Page 86 of 255 <br />714