Modeling household income

Comments

3 comments

  • Avatar
    IMPLAN Support
    Hi Jackie Thank you so much for your forum post. When you run a Household Income change, your initial value, for example $100,000, should include taxes and Savings. IMPLAN will account for savings and income taxes when it runs through the impact cycle. Note: the Household Income Change spending pattern includes purchases of commodities that households typically spend their wages on (electricity, mortgage, groceries, utilities, healthcare etc.). It may be worth considering if the households in your analysis will spend their government tax rebate on those typical household items, or they will use this windfall to pay off a loan or purchase a luxury item. If you know specifically where they are going to spend, you can impact a specific industry. Regards, IMPLAN Staff
  • Avatar
    coladuck
    Thank you very much! I have a follow-up question. If I have better information on the how much tax those households pay, is it possible for me to incorporate the information in IMPLAN?
  • Avatar
    IMPLAN Support
    Hi Jackie! Would you mind clarifying what is meant by "incorporating the information in IMPLAN". Specifically, are you referring to the payroll or income taxes? Thanks!

Please sign in to leave a comment.