Age 65 and Over Tax Exemptions for Tennessee
AGEXMTN47A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
812,000.00
Year-over-Year Change
57.56%
Date Range
1/1/1989 - 1/1/2022
Summary
This series tracks the number of tax exemptions claimed by Tennesseans aged 65 and over. It provides insights into the economic well-being and tax burden of the state's elderly population.
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 Tennessee metric records the total number of personal income tax exemptions claimed by Tennessee residents aged 65 and older. This data point is used by economists and policymakers to analyze trends in retirement income, cost of living, and the fiscal impacts of tax policies on the state's senior citizens.
Methodology
The data is collected annually by the U.S. Census Bureau through individual tax filings.
Historical Context
Analysts use this metric to assess the economic security and tax burden of Tennessee's aging population, which can inform state-level policies and programs.
Key Facts
- Tennessee has no state income tax on pension or retirement income.
- The state's median household income for those 65+ is $44,723.
- Over 25% of Tennessee's population is aged 60 or older.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the number of personal income tax exemptions claimed by Tennessee residents aged 65 and older.
Q: Why is this trend relevant for users or analysts?
A: The data provides insights into the economic well-being and tax burden of Tennessee's senior population, which can inform policy decisions.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Census Bureau through individual tax filings.
Q: How is this trend used in economic policy?
A: Analysts use this metric to assess the economic security and tax burden of Tennessee's aging population, which can inform state-level policies and programs.
Q: Are there update delays or limitations?
A: The data is released annually with a lag, and may not capture all tax exemptions due to filing deadlines or non-compliance.
Related Trends
State Tax Collections: T01 Property Taxes for Wyoming
QTAXT01QTAXCAT3WYNO
State Tax Collections: Total Taxes for Montana
QTAXTOTALQTAXCAT3MTNO
Age 65 and Over, Poverty Tax Exemptions for Arkansas
PAGEXMAR5A647NCEN
Mean Adjusted Gross Income for Michigan
MEANAGIMI26A052NCEN
State Tax Collections: T24 Motor Vehicles License for New York
QTAXT24QTAXCAT3NYNO
Poverty Tax Exemptions for Minnesota
PEXMMN27A647NCEN
Citation
U.S. Federal Reserve, Age 65 and Over Tax Exemptions for Tennessee (AGEXMTN47A647NCEN), retrieved from FRED.