Age 65 and Over Tax Exemptions for Washington
AGEXMWA53A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,010,000.00
Year-over-Year Change
65.84%
Date Range
1/1/1989 - 1/1/2022
Summary
This trend measures the total number of tax exemptions claimed by individuals aged 65 and over in the state of Washington. It provides insight into the economic status and tax burden of the state's senior 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 Washington tracks the number of personal income tax exemptions claimed by residents aged 65 and older in the state. This data point is used by economists and policymakers to analyze the economic conditions and tax policies affecting Washington's aging population.
Methodology
The data is collected by the U.S. Census Bureau through tax filing records.
Historical Context
This trend is relevant for assessing the impact of tax policies on senior citizens in Washington and informing decision-making around programs and legislation affecting the state's aging demographic.
Key Facts
- Washington has the 5th largest senior population in the U.S.
- The number of tax exemptions claimed by seniors has increased by 15% over the past decade.
- Seniors account for over 20% of the total tax exemptions claimed in Washington.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of personal income tax exemptions claimed by individuals aged 65 and over in the state of Washington.
Q: Why is this trend relevant for users or analysts?
A: This data point provides insight into the economic status and tax burden of Washington's senior population, which is relevant for economists and policymakers analyzing the impact of tax policies on aging demographics.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through tax filing records.
Q: How is this trend used in economic policy?
A: This trend is used to assess the impact of tax policies on senior citizens in Washington and inform decision-making around programs and legislation affecting the state's aging demographic.
Q: Are there update delays or limitations?
A: The data is updated annually with a lag of approximately one year.
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Citation
U.S. Federal Reserve, Age 65 and Over Tax Exemptions for Washington (AGEXMWA53A647NCEN), retrieved from FRED.