Age 65 and Over Tax Exemptions for Maine
AGEXMME23A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
238,000.00
Year-over-Year Change
78.61%
Date Range
1/1/1989 - 1/1/2022
Summary
This economic trend measures the number of tax exemptions claimed for individuals aged 65 and over in the state of Maine. It provides insight into the state's aging population and retirement patterns.
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 Maine metric tracks the volume of tax exemptions claimed by taxpayers aged 65 and older in the state. This data point offers valuable context on Maine's senior population and their economic circumstances.
Methodology
The data is collected through personal income tax filings in Maine.
Historical Context
This trend is relevant for policymakers and researchers analyzing demographic shifts and the economic well-being of Maine's retirees.
Key Facts
- Maine has one of the oldest populations in the U.S.
- Tax exemptions provide tax relief for retirees in Maine
- The number of tax exemptions has trended upward over time
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of tax exemptions claimed by Maine residents aged 65 and older on their personal income tax returns.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into Maine's aging population and the economic circumstances of retirees in the state, which is valuable for policymakers and researchers.
Q: How is this data collected or calculated?
A: The data is collected through personal income tax filings in the state of Maine.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and economists to analyze demographic shifts and the economic well-being of Maine's senior population, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and limitations as Maine's personal income tax filing process.
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Citation
U.S. Federal Reserve, Age 65 and Over Tax Exemptions for Maine (AGEXMME23A647NCEN), retrieved from FRED.