State Government Tax Collections, Documentary and Stock Transfer Taxes in Illinois
ILDOCUTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
81,876.00
Year-over-Year Change
54.60%
Date Range
1/1/1951 - 1/1/2024
Summary
This trend measures documentary and stock transfer taxes collected by the state government of Illinois. It provides insights into tax revenue sources and broader economic activity in the state.
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 State Government Tax Collections, Documentary and Stock Transfer Taxes in Illinois data series tracks the total taxes collected by the Illinois state government on real estate transfers and stock transactions. These taxes are an important revenue source and can also indicate trends in housing market and capital markets activity.
Methodology
The data is collected by the U.S. Census Bureau through surveys of state government finances.
Historical Context
This metric is used by economists and policymakers to analyze Illinois's tax base and monitor economic conditions.
Key Facts
- Illinois collected over $1 billion in documentary and stock transfer taxes in 2021.
- Documentary taxes account for the majority of this revenue stream.
- Tax collections have fluctuated with real estate and capital markets activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total taxes collected by the Illinois state government on real estate transfers and stock transactions.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into Illinois's tax base and can indicate broader trends in housing and capital markets activity within the state.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of state government finances.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to analyze Illinois's tax revenues and monitor economic conditions in the state.
Q: Are there update delays or limitations?
A: There may be delays in data reporting due to the survey-based collection process.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Documentary and Stock Transfer Taxes in Illinois (ILDOCUTAX), retrieved from FRED.