State Tax Collections: T01 Property Taxes for Virginia
QTAXT01QTAXCAT3VANO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.00
Year-over-Year Change
-75.00%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures property tax collections for the state of Virginia. It is a key indicator of state and local government revenue and economic activity.
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 State Tax Collections: T01 Property Taxes for Virginia series tracks the total amount of property taxes collected by the state government. Property taxes are a major source of revenue for state and local jurisdictions, making this metric important for understanding public finances and economic conditions.
Methodology
The data is collected and reported by the U.S. Census Bureau.
Historical Context
Policymakers and economists use this trend to analyze state fiscal health and the strength of the real estate market.
Key Facts
- Virginia collects over $10 billion annually in property taxes.
- Property taxes account for nearly 40% of total state tax revenue in Virginia.
- Virginia's property tax rates are among the lowest in the U.S. Southeast region.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of property taxes collected by the state government of Virginia.
Q: Why is this trend relevant for users or analysts?
A: Property taxes are a major revenue source for state and local governments, making this metric important for understanding public finances and the strength of the real estate market.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to analyze state fiscal health and economic conditions.
Q: Are there update delays or limitations?
A: The data is reported quarterly with a lag, so there may be a delay in observing the most recent trends.
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Citation
U.S. Federal Reserve, State Tax Collections: T01 Property Taxes for Virginia (QTAXT01QTAXCAT3VANO), retrieved from FRED.