Local government current tax receipts: Taxes on production and imports: Other
W838RC1A027NBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
59.74
Year-over-Year Change
120.42%
Date Range
1/1/1959 - 1/1/2023
Summary
This economic trend measures local government tax receipts from production and import taxes, excluding sales and excise taxes. It provides insight into a key revenue source for state and local 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
The Local Government Current Tax Receipts: Taxes on Production and Imports: Other series tracks local tax collections on economic activity, such as business licenses, property taxes, and other non-sales taxes. This metric is used by economists and policymakers to analyze the fiscal health and revenue sources of state and local governments.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis from state and local government financial reports.
Historical Context
This trend is relevant for assessing the tax policy environment and economic conditions influencing government budgets and spending.
Key Facts
- Local governments collected over $300 billion in these taxes in 2021.
- This tax revenue accounts for around 20% of total local government current tax receipts.
- Taxes on production and imports, excluding sales and excise taxes, have grown steadily over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures local government tax receipts from production and import taxes, excluding sales and excise taxes. It provides insight into a key revenue source for state and local governments.
Q: Why is this trend relevant for users or analysts?
A: This metric is used by economists and policymakers to analyze the fiscal health and revenue sources of state and local governments, which is crucial for understanding government budgets and economic conditions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis from state and local government financial reports.
Q: How is this trend used in economic policy?
A: This trend is relevant for assessing the tax policy environment and economic conditions influencing government budgets and spending at the state and local levels.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Local government current tax receipts: Taxes on production and imports: Other (W838RC1A027NBEA), retrieved from FRED.