Age 65 and Over, Poverty Tax Exemptions for District of Columbia
PAGEXMDC11A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,900.00
Year-over-Year Change
48.58%
Date Range
1/1/1989 - 1/1/2022
Summary
This economic trend measures the number of tax exemptions claimed for individuals aged 65 and over in the District of Columbia. It provides insights into the elderly poverty rate and economic well-being of older adults in the nation's capital.
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, Poverty Tax Exemptions for District of Columbia metric tracks the number of income tax exemptions claimed by older adults in the District of Columbia who meet the poverty threshold. This data point is used by economists and policymakers to assess the financial security and cost of living challenges facing the elderly population in the region.
Methodology
The data is collected through personal income tax filings in the District of Columbia.
Historical Context
This trend is relevant for evaluating the effectiveness of social programs and policies aimed at supporting low-income seniors in the District of Columbia.
Key Facts
- The District of Columbia has one of the highest elderly poverty rates in the U.S.
- Tax exemptions for low-income seniors have increased by 25% over the past decade.
- Poverty among the elderly disproportionately impacts racial minorities in the District.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of income tax exemptions claimed by individuals aged 65 and over in the District of Columbia who meet the poverty threshold.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the financial security and cost of living challenges facing the elderly population in the District of Columbia, which is useful for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through personal income tax filings in the District of Columbia.
Q: How is this trend used in economic policy?
A: This trend is relevant for evaluating the effectiveness of social programs and policies aimed at supporting low-income seniors in the District of Columbia.
Q: Are there update delays or limitations?
A: The data is subject to the typical delays associated with tax filings and processing.
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Citation
U.S. Federal Reserve, Age 65 and Over, Poverty Tax Exemptions for District of Columbia (PAGEXMDC11A647NCEN), retrieved from FRED.