Taxes on production and imports: State and local government: Special assessments
S230551A027NBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16.87
Year-over-Year Change
134.07%
Date Range
1/1/1959 - 1/1/2023
Summary
This economic trend measures state and local government tax revenue from special assessments, a type of indirect tax. It provides insight into the fiscal health and revenue sources of sub-national 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
Special assessments are taxes levied by state and local governments to fund specific public improvements or services that directly benefit certain properties or businesses. This data series tracks the total revenue collected from these taxes over time.
Methodology
The data is collected and reported by the U.S. Bureau of Economic Analysis as part of its national income and product accounts.
Historical Context
Policymakers and analysts use this metric to understand state and local government budgets and revenue trends.
Key Facts
- Special assessments account for around 2% of total state and local tax revenue.
- Revenues from special assessments tend to be more volatile than other tax sources.
- The use of special assessments varies significantly across different state and local jurisdictions.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total revenue collected by state and local governments in the United States from special assessments, a type of indirect tax levied to fund specific public improvements or services.
Q: Why is this trend relevant for users or analysts?
A: Special assessments provide an important source of funding for state and local governments, so this data is useful for understanding their fiscal health and revenue composition.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Bureau of Economic Analysis as part of its national income and product accounts.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to monitor state and local government budgets and revenue trends, which can inform fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and revision processes of the Bureau of Economic Analysis, so there may be some time lag or minor revisions in the reported figures.
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Citation
U.S. Federal Reserve, Taxes on production and imports: State and local government: Special assessments (S230551A027NBEA), retrieved from FRED.