Age 65 and Over Tax Exemptions for Indiana
AGEXMIN18A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
913,000.00
Year-over-Year Change
43.50%
Date Range
1/1/1989 - 1/1/2022
Summary
This data series tracks the number of tax exemptions claimed by Indiana residents aged 65 and over. It provides insights into the elderly population's economic status and tax burden 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 Age 65 and Over Tax Exemptions for Indiana metric records the total number of tax exemptions claimed by Indiana residents aged 65 and older on their state income tax returns. This data point is useful for analyzing trends in the economic well-being and tax status of the state's senior population.
Methodology
The data is collected annually by the U.S. Census Bureau through tax filing records.
Historical Context
Policymakers use this metric to evaluate the tax burden on retirees and design policies to support the financial security of Indiana's elderly population.
Key Facts
- Indiana offers a tax exemption for residents aged 65 and over.
- The number of tax exemptions claimed by seniors has increased over time.
- Elderly tax exemptions represent a significant portion of Indiana's tax revenue.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the number of tax exemptions claimed by Indiana residents aged 65 and over on their state income tax returns.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic status and tax burden of Indiana's elderly population, which is useful for policymakers designing tax and retirement policies.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Census Bureau through tax filing records.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to evaluate the tax burden on retirees and design policies to support the financial security of Indiana's elderly population.
Q: Are there update delays or limitations?
A: The data is published annually with a delay of several months after the end of the tax year.
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Citation
U.S. Census Bureau, Age 65 and Over Tax Exemptions for Indiana (AGEXMIN18A647NCEN), retrieved from FRED.