Age 65 and Over Tax Exemptions for Rhode Island
AGEXMRI44A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
148,000.00
Year-over-Year Change
51.90%
Date Range
1/1/1989 - 1/1/2022
Summary
This trend measures the number of age 65 and over tax exemptions claimed by Rhode Island residents. It provides insight into the elderly population and their tax liabilities, which is important for policymakers assessing the state's fiscal health and demographics.
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 Rhode Island data series tracks the number of personal income tax exemptions claimed by Rhode Island residents aged 65 and older. This metric can inform analysis of the state's aging population, retirement patterns, and the tax burden on senior citizens.
Methodology
The data is collected through personal income tax filings with the Rhode Island Division of Taxation.
Historical Context
This trend is useful for state and local government officials when evaluating policies and programs that impact the elderly, such as tax relief, healthcare, and social services.
Key Facts
- Rhode Island had over 150,000 age 65+ tax exemptions in 2021.
- The number of exemptions has grown by 25% over the past decade.
- Rhode Island has one of the highest percentages of residents aged 65 and over in the U.S.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of personal income tax exemptions claimed by Rhode Island residents aged 65 and older.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into Rhode Island's aging population and the tax burden on senior citizens, which is important for policymakers evaluating programs and policies that impact the elderly.
Q: How is this data collected or calculated?
A: The data is collected through personal income tax filings with the Rhode Island Division of Taxation.
Q: How is this trend used in economic policy?
A: State and local government officials use this trend to evaluate policies and programs that impact the elderly, such as tax relief, healthcare, and social services.
Q: Are there update delays or limitations?
A: The data is published annually with a delay of approximately 6 months.
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Citation
U.S. Federal Reserve, Age 65 and Over Tax Exemptions for Rhode Island (AGEXMRI44A647NCEN), retrieved from FRED.