State Government Tax Collections, Motor Vehicle Licenses in Maryland
MDMOTOLICTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
499,315.00
Year-over-Year Change
12.47%
Date Range
1/1/1951 - 1/1/2024
Summary
This economic trend measures state government tax collections from motor vehicle licenses in Maryland. It is an important indicator of transportation infrastructure funding and economic activity 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 State Government Tax Collections, Motor Vehicle Licenses in Maryland metric tracks the revenue collected by the Maryland state government from taxes and fees on motor vehicle registrations and licenses. This data provides insight into transportation funding and can be used to analyze economic trends and policy impacts.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state and local government finance.
Historical Context
Policymakers and economists use this trend to understand transportation infrastructure investment and the economic conditions in Maryland.
Key Facts
- Maryland collected $524 million in motor vehicle license taxes in 2021.
- This trend has grown at an average annual rate of 2.3% over the past decade.
- Motor vehicle license taxes account for around 4% of Maryland's total state tax revenue.
FAQs
Q: What does this economic trend measure?
A: This trend measures the tax revenue collected by the state government of Maryland from motor vehicle registration and licensing fees.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into transportation infrastructure funding and can be used to analyze economic conditions and policy impacts in Maryland.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state and local government finance.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to understand transportation investment and the economic conditions in Maryland.
Q: Are there update delays or limitations?
A: The data is published annually with a delay of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Motor Vehicle Licenses in Maryland (MDMOTOLICTAX), retrieved from FRED.