Age 65 and Over Tax Exemptions for Connecticut
This dataset tracks age 65 and over tax exemptions for connecticut over time.
Latest Value
511000.00
Year-over-Year Change
43.23%
Date Range
1/1/1989 - 1/1/2022
Summary
This trend measures the number of tax exemptions claimed by Connecticut residents aged 65 and over. It provides insights into the economic status and tax burden of the state's senior population.
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 Connecticut metric tracks the total number of personal income tax exemptions claimed by Connecticut residents who are 65 years of age or older. This data point is useful for analyzing the financial circumstances and tax relief accessed by the state's elderly population.
Methodology
The data is collected through individual income tax filings in Connecticut.
Historical Context
This metric is relevant for policymakers and economists assessing the economic well-being and tax burden of senior citizens in the state.
Key Facts
- Connecticut has the 4th highest share of residents aged 65 and over in the U.S.
- The state's senior population has grown by 14% over the past decade.
- Tax exemptions provide critical financial support for many Connecticut retirees.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of personal income tax exemptions claimed by Connecticut residents aged 65 and over.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the financial status and tax burden of Connecticut's senior population, which is valuable for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through individual income tax filings in the state of Connecticut.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers and analysts to assess the economic well-being and tax relief accessed by the elderly population in Connecticut.
Q: Are there update delays or limitations?
A: The data is subject to typical state tax filing timelines and may have a short delay before being published.
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Citation
U.S. Federal Reserve, Age 65 and Over Tax Exemptions for Connecticut (AGEXMCT9A647NCEN), retrieved from FRED.