State Government Tax Collections, Total Taxes in Arizona
AZTOTLTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23,595,616.00
Year-over-Year Change
81.55%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Total Taxes in Arizona' series measures the total tax revenue collected by the state government of Arizona. This data is crucial for policymakers to understand Arizona's fiscal health and make informed decisions about revenue and spending.
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
This series represents the sum of all tax collections by the Arizona state government, including sales, income, property, and other taxes. Economists and analysts use this data to evaluate the state's economic conditions, revenue sources, and fiscal policy.
Methodology
The data is collected and reported by the U.S. Census Bureau through surveys of state government finance.
Historical Context
Trends in Arizona's total tax collections are closely monitored by state officials, bond markets, and economic researchers to assess the government's ability to fund public services and programs.
Key Facts
- Arizona's total tax collections were $26.1 billion in 2021.
- Sales tax is the largest source of state tax revenue in Arizona.
- Total tax collections have grown by 22% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This series measures the total tax revenue collected by the state government of Arizona, including sales, income, property, and other taxes.
Q: Why is this trend relevant for users or analysts?
A: Trends in Arizona's total tax collections are closely monitored by state officials, bond markets, and economic researchers to assess the government's fiscal health and ability to fund public services.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through surveys of state government finance.
Q: How is this trend used in economic policy?
A: Policymakers use this data to understand Arizona's fiscal health and make informed decisions about revenue and spending at the state level.
Q: Are there update delays or limitations?
A: The data is published quarterly with a delay of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Total Taxes in Arizona (AZTOTLTAX), retrieved from FRED.