National Totals of State and Local Tax Revenue: Total Taxes for the United States
QTAXTOTALQTAXCAT1USYES • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
538,263.00
Year-over-Year Change
5.39%
Date Range
1/1/2009 - 1/1/2025
Summary
The National Totals of State and Local Tax Revenue: Total Taxes for the United States tracks the aggregate tax revenue collected by state and local governments across the country. This key metric provides insight into the fiscal health and policies of subnational governments.
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
This economic series represents the total tax revenue raised by all state and local governments in the United States. It includes income taxes, sales taxes, property taxes, and other sources of public sector funding. The data is used by economists, policymakers, and analysts to evaluate the fiscal conditions and policy decisions of state and local governments.
Methodology
The data is collected and aggregated by the U.S. Census Bureau through surveys of state and local tax authorities.
Historical Context
Policymakers and markets monitor this trend to understand the spending capacity and policy environment of subnational governments.
Key Facts
- State and local governments collected over $2 trillion in total tax revenue in 2021.
- Tax revenue has grown at an average annual rate of 4.3% over the past decade.
- Property taxes account for the largest share of state and local tax collections.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by state and local governments across the United States, including income taxes, sales taxes, property taxes, and other sources of public sector funding.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the fiscal health and policy decisions of subnational governments, which is critical information for economists, policymakers, and market participants.
Q: How is this data collected or calculated?
A: The data is collected and aggregated by the U.S. Census Bureau through surveys of state and local tax authorities.
Q: How is this trend used in economic policy?
A: Policymakers and markets monitor this trend to understand the spending capacity and policy environment of state and local governments, which have a significant impact on the broader economy.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months, so there may be a delay in reflecting the most recent fiscal conditions of state and local governments.
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Citation
U.S. Federal Reserve, National Totals of State and Local Tax Revenue: Total Taxes for the United States (QTAXTOTALQTAXCAT1USYES), retrieved from FRED.