Tate County residents dig deep when it’s time to give.
In a recent study, SmartAsset dug into data from the Internal Revenue Service (IRS) to find places where residents donate the most. The organization looked at all 82 Mississippi counties and ranked the top 10 counties related to how much is given and how many people give in each county.
Tate County ranks 24th in the state and 707th in the United States in charitable donations, according to IRS data.
To find the most generous places, SmartAsset compared two factors in each county – the amount of money people donated as a percentage of their net income, and the proportion of people who made charitable donations.
Data revealed Tate Countians give 1.33% of their income and 5.07% of local tax returns were itemized for charitable contributions.
Madison County topped the list in Mississippi at 2.74% and 13.88%, followed by Lafayette County at 2.35% and 7.94%. DeSoto County ranked fourth at 1.82% and 8.19%.
To determine the amount of money that people donate as a percentage of their income, SmartAsset first calculated the net income for everyone in each county. To do this, the company looked at tax return data and accounted for federal, state and local taxes paid.
SmartAsset accounted for deductible entries, including mortgage interest, mortgage points and mortgage insurance payments. It also divided each county’s total charitable donations by its total net income to see the amount of money residents in each county have donated relative to their income.
Next, SmartAsset measured the total number of individual tax returns that show charitable contributions and divided that by the total number of individual tax returns in each county. This indicated the proportion of people in each county who make charitable donations.
