State Tax Collections: T24 Motor Vehicles License for Texas
QTAXT24QTAXCAT3TXNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
570.00
Year-over-Year Change
16.09%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures state tax collections from motor vehicle licensing fees in Texas. It provides insights into consumer and business activity in the transportation sector.
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: T24 Motor Vehicles License for Texas metric tracks the monthly revenue generated by the state of Texas from licensing fees on motor vehicles. This data point is used by economists and policymakers to analyze trends in consumer spending, business investment, and overall economic conditions.
Methodology
The data is collected and reported by the U.S. Census Bureau based on reports from the Texas state government.
Historical Context
This trend is relevant for understanding the health of Texas' transportation and automotive industries.
Key Facts
- Texas collects over $4 billion annually in motor vehicle licensing fees.
- Vehicle registrations account for over 25% of total state tax revenue in Texas.
- Motor vehicle licensing fees have grown by 3% per year on average over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the monthly revenue collected by the state of Texas from fees and taxes on motor vehicle registrations and licensing.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into consumer and business activity in the transportation sector, which is a key driver of economic growth in Texas.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau based on reports from the Texas state government.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to analyze trends in consumer spending, business investment, and overall economic conditions in Texas.
Q: Are there update delays or limitations?
A: There is typically a 2-3 month delay in the reporting of this data by the Census Bureau.
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Citation
U.S. Federal Reserve, State Tax Collections: T24 Motor Vehicles License for Texas (QTAXT24QTAXCAT3TXNO), retrieved from FRED.