How to calculate household disposable income in CPS

CPS
1

I’m attempting to calculate an approximation of household disposable income in CPS by subtracting a variety of taxes, subsidies and benefits (hhincome - fedtax - statetax + eitcred + stimulus + stampval + ctccrd + actccrd) from hhincome (household income). I am worried that I am missing an important tax, benefit, etc. (e.g. property taxes) because it’s unclear to me what taxes fall under fedtax and statetax.

Can someone please let me know if property tax is counted under state tax and if there are other major taxes and benefits that I may be overlooking?

Thanks in advance

2

Property tax (PROPTAX) is a separate variable counted at the household level and can be found in the Household Economic Characteristics group.

Another set of variables that you may be interested in are the Supplemental Poverty Measures, the variable SPMTOTRES, seems to be doing a process similar to the one you are proposing. However, SPM variables are based on SPM family Units (SPMFAMUNIT).

I hope this helps.