Local government current tax receipts: Taxes on production and imports: Property taxes
W837RC1A027NBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
710.03
Year-over-Year Change
65.53%
Date Range
1/1/1959 - 1/1/2023
Summary
This economic trend measures local government tax receipts from property taxes, which are a key source of revenue for funding public services and infrastructure.
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
Property taxes are a major component of local government tax receipts, reflecting the value of residential, commercial, and industrial real estate. This data provides insight into the fiscal health and funding capacity of state and local governments.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Historical Context
Property tax revenue is an important metric for policymakers and analysts assessing the budgetary conditions and investment capacity of state and local governments.
Key Facts
- Property taxes account for over 70% of local tax revenue.
- Local governments rely on property taxes to fund schools, infrastructure, and public services.
- Property tax collections tend to be stable but can fluctuate with real estate market conditions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the tax receipts collected by local governments from property taxes, which are levied on the value of residential, commercial, and industrial real estate.
Q: Why is this trend relevant for users or analysts?
A: Property tax revenue is a key indicator of the fiscal health and funding capacity of state and local governments, providing insight into their ability to invest in public services and infrastructure.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to assess the budgetary conditions and investment capacity of state and local governments, which play a critical role in the provision of public services and infrastructure.
Q: Are there update delays or limitations?
A: This data is released quarterly by the U.S. Bureau of Economic Analysis, with potential lags of several months in the most recent data.
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Citation
U.S. Federal Reserve, Local government current tax receipts: Taxes on production and imports: Property taxes (W837RC1A027NBEA), retrieved from FRED.