Age 65 and Over Tax Exemptions for California
AGEXMCA6A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,220,000.00
Year-over-Year Change
55.09%
Date Range
1/1/1989 - 1/1/2022
Summary
This trend measures the number of tax exemptions claimed by California residents aged 65 and over. It provides insights into the senior population and their tax burden, which is relevant for policymakers and economists analyzing retirement, taxation, and cost-of-living trends.
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 Age 65 and Over Tax Exemptions for California metric tracks the number of personal income tax exemptions claimed by California residents aged 65 and older. This data point is used to estimate the size and characteristics of the senior population, and to understand the tax implications of aging demographics within the state.
Methodology
The data is collected by the U.S. Census Bureau through individual tax filings.
Historical Context
This trend is useful for policymakers and analysts examining tax policy, retirement security, and the economic well-being of California's aging population.
Key Facts
- California has the largest senior population in the U.S.
- Tax exemptions for seniors can total over $1 billion annually in California.
- The number of senior tax exemptions has grown by over 20% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of personal income tax exemptions claimed by California residents aged 65 and older.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the size and characteristics of California's senior population, as well as the tax implications of aging demographics within the state.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through individual tax filings.
Q: How is this trend used in economic policy?
A: This trend is useful for policymakers and analysts examining tax policy, retirement security, and the economic well-being of California's aging population.
Q: Are there update delays or limitations?
A: The data is updated annually and may have a 1-2 year lag due to tax filing and processing timelines.
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Citation
U.S. Federal Reserve, Age 65 and Over Tax Exemptions for California (AGEXMCA6A647NCEN), retrieved from FRED.