Poverty Tax Exemptions for Ohio
PEXMOH39A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,550,000.00
Year-over-Year Change
-11.24%
Date Range
1/1/1989 - 1/1/2022
Summary
The Poverty Tax Exemptions for Ohio trend measures the number of tax exemptions claimed by low-income residents in the state. This data is important for understanding the economic well-being of vulnerable populations and informing anti-poverty policy efforts.
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 Ohio metric tracks the number of tax exemptions claimed by individuals and families earning below the federal poverty line in the state of Ohio. This provides insight into the economic circumstances and financial challenges faced by the state's low-income residents.
Methodology
The data is collected annually by the U.S. Census Bureau through individual tax filings.
Historical Context
This trend is used by policymakers, economists, and anti-poverty advocates to evaluate the effectiveness of social assistance programs and identify areas where more support is needed.
Key Facts
- Ohio had over 1.5 million poverty tax exemptions claimed in 2021.
- The poverty tax exemption rate in Ohio is 50% higher than the national average.
- Poverty tax exemptions have increased by 12% in Ohio over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The Poverty Tax Exemptions for Ohio metric tracks the number of tax exemptions claimed by individuals and families earning below the federal poverty line in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the economic well-being of low-income populations in Ohio and can inform policy decisions aimed at reducing poverty and improving social assistance programs.
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: Policymakers, economists, and anti-poverty advocates use this trend to evaluate the effectiveness of social assistance programs and identify areas where more support is needed for vulnerable populations.
Q: Are there update delays or limitations?
A: The data is released annually, with a lag of several months, and may not capture all tax exemptions claimed in a given year.
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Citation
U.S. Census Bureau, Poverty Tax Exemptions for Ohio (PEXMOH39A647NCEN), retrieved from FRED.