Olmsted County One of Minnesota’s Most Paycheck-Friendly Places
There's good news if you like to keep most of your paycheck-- a new survey says Olmsted County is one of the most paycheck-friendly places in the state.
Seeing as Monday was Tax Day, it might be comforting to know that, despite how much we all had to give Uncle Sam this year (even if you got a refund), a new survey from smartasset.com says Olmsted County is one of the best places in Minnesota when it comes to being paycheck-friendly. (Which, according to the survey, is defined as having favorable economic conditions that allow you get to keep more of the money you make.)
In fact, out of Minnesota's 87 counties, Olmsted County came in ranked #7 on the Paycheck Friendliness chart in the smartasset survey. Only Carver, Scott, Washington, Sherburne, Dakota and Rock counties ranked higher than us. Most of those, of course, (except for Rock County) are in the Twin Cities metro area.
To figure out those rankings, the survey looked at these categories: semi-monthly paycheck, purchasing power, unemployment rate and income growth. Their methodology is a little complex (you can read how they computed everything HERE), but ranking #7 out of 87 isn't too bad, right?
I did note, though, that local property taxes were NOT one of the categories they considered when they compiled the list. Because, I don't know about you, but our property taxes here in Olmsted County increased nearly 12% last year-- which doesn't seem very 'paycheck-friendly' if you ask me!