State Government Tax Collections, Property Taxes in Illinois
ILPROPTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
73,342.00
Year-over-Year Change
12.65%
Date Range
1/1/1942 - 1/1/2024
Summary
This economic trend measures property tax collections by state governments in Illinois. It serves as an important indicator of state and local government revenue.
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, Property Taxes in Illinois series tracks the total amount of property taxes collected by the state government of Illinois. This data point is used by economists and policymakers to assess the fiscal health and revenue streams of state and local governments.
Methodology
The data is collected directly from state government tax agencies.
Historical Context
This trend provides insight into the tax and spending environment for businesses and residents in Illinois.
Key Facts
- Illinois is the 6th largest state economy in the U.S.
- Property taxes account for over 70% of state and local tax revenue in Illinois.
- Illinois has the second-highest property tax burden in the country.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of property taxes collected by the state government of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This data point provides insight into the fiscal health and revenue streams of state and local governments in Illinois, which is crucial for businesses, residents, and policymakers.
Q: How is this data collected or calculated?
A: The data is collected directly from state government tax agencies in Illinois.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the tax and spending environment for businesses and residents in Illinois.
Q: Are there update delays or limitations?
A: The data is updated quarterly with a typical 3-month delay.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Property Taxes in Illinois (ILPROPTAX), retrieved from FRED.