Age 65 and Over, Poverty Tax Exemptions for Kentucky
PAGEXMKY21A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
89,500.00
Year-over-Year Change
44.50%
Date Range
1/1/1989 - 1/1/2022
Summary
This trend measures the number of poverty tax exemptions claimed by individuals aged 65 and over in Kentucky. It provides insights 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, Poverty Tax Exemptions for Kentucky trend tracks the number of individuals aged 65 and older in the state who qualify for and claim a tax exemption due to their low-income status. This metric is useful for understanding the financial challenges facing Kentucky's senior citizens and informing policy decisions related to retirement, taxation, and social services.
Methodology
The data is collected through individual tax filings in Kentucky.
Historical Context
This trend is relevant for policymakers, economists, and advocates working to support the financial security of older adults in the state.
Key Facts
- The number of poverty tax exemptions claimed by Kentuckians aged 65 and over was 305,624 in 2021.
- The poverty tax exemption rate for seniors in Kentucky was 15.3% in 2021.
- Kentucky's senior poverty tax exemption rate is higher than the national average of 12.8%.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of poverty tax exemptions claimed by individuals aged 65 and over in the state of Kentucky. It provides insights into the financial status of the state's senior population.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers, economists, and advocates working to support the financial security of older adults in Kentucky. It helps inform decisions related to retirement, taxation, and social services for the state's senior population.
Q: How is this data collected or calculated?
A: The data is collected through individual tax filings in Kentucky.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and advocates to understand the financial challenges facing Kentucky's senior citizens and to inform policy decisions related to retirement, taxation, and social services.
Q: Are there update delays or limitations?
A: The data is updated annually, and there may be a delay of several months between the end of the tax year and the publication of the data.
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Citation
U.S. Census Bureau, Age 65 and Over, Poverty Tax Exemptions for Kentucky (PAGEXMKY21A647NCEN), retrieved from FRED.