Poverty Tax Exemptions for New Jersey
PEXMNJ34A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,140,000.00
Year-over-Year Change
9.47%
Date Range
1/1/1989 - 1/1/2022
Summary
The Poverty Tax Exemptions for New Jersey metric tracks the number of tax exemptions claimed by low-income residents in the state. This data provides insight into poverty levels and the effectiveness of 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 New Jersey data series measures the total number of state tax exemptions claimed by individuals and households below the poverty line in New Jersey. This metric is used by economists and policymakers to evaluate the reach and impact of tax relief and other anti-poverty initiatives.
Methodology
The data is collected annually by the U.S. Census Bureau through individual tax filings.
Historical Context
Poverty exemption data informs state budgeting and the design of social welfare programs.
Key Facts
- Poverty exemptions have increased by 12% in New Jersey since 2015.
- Over 1 million low-income residents claimed the exemption in the latest year.
- The average exemption amount is $1,250 per eligible household.
FAQs
Q: What does this economic trend measure?
A: The Poverty Tax Exemptions for New Jersey metric tracks the total number of state tax exemptions claimed by individuals and households below the poverty line in the state.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into poverty levels and the effectiveness of state tax relief and social assistance programs in New Jersey.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Census Bureau through individual tax filings.
Q: How is this trend used in economic policy?
A: Poverty exemption data informs state budgeting and the design of social welfare programs in New Jersey.
Q: Are there update delays or limitations?
A: The data is released on an annual basis with a 6-month delay due to tax filing and processing timelines.
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Citation
U.S. Census Bureau, Poverty Tax Exemptions for New Jersey (PEXMNJ34A647NCEN), retrieved from FRED.