Age 65 and Over Tax Exemptions for Ohio
AGEXMOH39A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,570,000.00
Year-over-Year Change
44.31%
Date Range
1/1/1989 - 1/1/2022
Summary
This trend measures the number of tax exemptions claimed by Ohio residents aged 65 and over. It provides insight into the economic status and tax burden of older Ohioans.
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 Ohio metric tracks the total number of personal income tax exemptions claimed by Ohio residents who are at least 65 years old. This data point is used by policymakers and economists to analyze the financial situation and tax policies affecting the state's senior population.
Methodology
The data is collected by the U.S. Census Bureau through annual tax filings.
Historical Context
This trend is relevant for understanding the economic well-being of older Ohioans and informing state-level tax and social policies.
Key Facts
- Ohio has over 1.7 million residents aged 65 and older.
- Tax exemptions for seniors account for over $2 billion in state tax revenue.
- The average Ohio senior household claims 1.2 tax exemptions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of personal income tax exemptions claimed by Ohio residents aged 65 and over.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the financial status and tax burden of Ohio's senior population, which is valuable for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through annual tax filings.
Q: How is this trend used in economic policy?
A: This trend informs state-level tax and social policies affecting older Ohioans.
Q: Are there update delays or limitations?
A: The data is published annually, so there may be a 1-year delay in the most recent information.
Related Trends
State Tax Collections: T40 Individual Income Taxes for Washington
QTAXT40QTAXCAT3WANO
Child Tax Exemptions for Arizona
CHEXMAZ4A647NCEN
Total Tax Exemptions for Montana
TOTEXMMT30A647NCEN
State Tax Collections: T29 Other License Taxes for Alabama
QTAXT29QTAXCAT3ALNO
State Tax Collections: T50 Death and Gift Taxes for the United States
QTAXT50QTAXCAT3USNO
State Tax Collections: T11 Amusements Sales Tax for District of Columbia
QTAXT11QTAXCAT3DCNO
Citation
U.S. Federal Reserve, Age 65 and Over Tax Exemptions for Ohio (AGEXMOH39A647NCEN), retrieved from FRED.