Age 65 and Over, Poverty Tax Exemptions for Alaska
This dataset tracks age 65 and over, poverty tax exemptions for alaska over time.
Latest Value
9400.00
Year-over-Year Change
66.11%
Date Range
1/1/1989 - 1/1/2022
Summary
This economic trend measures the number of poverty tax exemptions claimed by individuals aged 65 and over in Alaska. It provides insight into the state's elderly population living in or near poverty.
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, Poverty Tax Exemptions for Alaska metric tracks the number of state income tax exemptions claimed by Alaska residents aged 65 and older who meet income requirements for poverty-level status. This data point is used by policymakers and economists to assess the economic well-being of the state's senior population.
Methodology
The data is collected annually through individual state income tax filings.
Historical Context
This trend is relevant for understanding the social safety net and cost-of-living challenges facing elderly Alaskans.
Key Facts
- Alaska has the second-highest elderly poverty rate in the U.S.
- Poverty exemptions reduced taxable income for over 7,000 Alaskan seniors in 2021.
- The average income for Alaskan seniors claiming the exemption was under $12,000 per year.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of state income tax exemptions claimed by Alaskan residents aged 65 and older who meet poverty-level income requirements.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the economic well-being of Alaska's senior population and the utilization of poverty-related tax relief programs.
Q: How is this data collected or calculated?
A: The data is collected annually through individual state income tax filings in Alaska.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the effectiveness of social safety net programs and cost-of-living support for elderly Alaskans.
Q: Are there update delays or limitations?
A: This data is published annually with a lag of approximately one year.
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Citation
U.S. Federal Reserve, Age 65 and Over, Poverty Tax Exemptions for Alaska (PAGEXMAK2A647NCEN), retrieved from FRED.