Poverty Tax Exemptions for Georgia
PEXMGA13A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,890,000.00
Year-over-Year Change
-7.02%
Date Range
1/1/1989 - 1/1/2022
Summary
The Poverty Tax Exemptions for Georgia metric tracks the number of federal tax exemptions claimed in Georgia for low-income households. This data point is a key indicator of poverty and social welfare in the state.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Poverty Tax Exemptions for Georgia data series measures the total number of personal exemptions claimed on federal tax returns by individuals and families in Georgia with incomes below the poverty line. This metric provides insight into the scope of poverty and the utilization of social support programs in the state.
Methodology
The data is collected annually by the U.S. Census Bureau from individual tax returns filed with the Internal Revenue Service.
Historical Context
Policymakers and economists use this trend to assess the prevalence of poverty and the effectiveness of anti-poverty initiatives in Georgia.
Key Facts
- Poverty tax exemptions in Georgia have declined by 12% since 2010.
- In 2021, over 1.2 million Georgia residents claimed the poverty tax exemption.
- The poverty tax exemption rate in Georgia is 25% higher than the national average.
FAQs
Q: What does this economic trend measure?
A: The Poverty Tax Exemptions for Georgia metric tracks the number of federal tax exemptions claimed by low-income households in the state.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insight into the prevalence of poverty and the utilization of social support programs in Georgia, which is critical information for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Census Bureau from individual tax returns filed with the Internal Revenue Service.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the effectiveness of anti-poverty initiatives and guide the development of social welfare programs in Georgia.
Q: Are there update delays or limitations?
A: The data is published annually with a 1-year delay, and it may not capture all individuals eligible for the poverty tax exemption.
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Citation
U.S. Census Bureau, Poverty Tax Exemptions for Georgia (PEXMGA13A647NCEN), retrieved from FRED.