Poverty Tax Exemptions for Massachusetts
PEXMMA25A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
701,000.00
Year-over-Year Change
1.97%
Date Range
1/1/1989 - 1/1/2022
Summary
The Poverty Tax Exemptions for Massachusetts metric tracks the number of individuals who claimed poverty-based tax exemptions in the state. This data provides insight into the level of economic hardship and need for social assistance programs.
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 Poverty Tax Exemptions for Massachusetts data measures the number of taxpayers in the state who qualified for and claimed tax exemptions due to financial hardship. This serves as an important indicator of economic distress and the demand for public aid programs.
Methodology
The data is collected annually from state tax return filings.
Historical Context
This metric is closely monitored by policymakers to understand poverty levels and the effectiveness of anti-poverty initiatives.
Key Facts
- Massachusetts has over 6.8 million residents.
- The state's poverty rate was 10.3% in 2021.
- Tax exemptions are a key tool for supporting low-income families.
FAQs
Q: What does this economic trend measure?
A: The Poverty Tax Exemptions for Massachusetts metric tracks the number of individuals in the state who claimed tax exemptions due to financial hardship or low income.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insight into the level of economic need and demand for social assistance programs in Massachusetts.
Q: How is this data collected or calculated?
A: The data is collected annually from state tax return filings.
Q: How is this trend used in economic policy?
A: Policymakers closely monitor this metric to understand poverty levels and the effectiveness of anti-poverty initiatives in Massachusetts.
Q: Are there update delays or limitations?
A: The data is published annually with a short delay as it is based on tax return filings.
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Citation
U.S. Federal Reserve, Poverty Tax Exemptions for Massachusetts (PEXMMA25A647NCEN), retrieved from FRED.