Age 65 and Over, Poverty Tax Exemptions for Connecticut
PAGEXMCT9A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
72,500.00
Year-over-Year Change
42.89%
Date Range
1/1/1989 - 1/1/2022
Summary
This trend measures the number of poverty tax exemptions claimed for individuals aged 65 and over in Connecticut. It provides insights into the economic well-being of the state's senior population.
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 Connecticut trend tracks the number of tax exemptions claimed by residents aged 65 and older who meet certain income thresholds. This data point is used by policymakers and economists to assess the financial security and cost-of-living challenges faced by Connecticut's senior citizens.
Methodology
The data is collected through state tax filings and tabulated by the U.S. Census Bureau.
Historical Context
This trend is relevant for evaluating the effectiveness of programs and policies aimed at supporting the economic security of older adults in Connecticut.
Key Facts
- Connecticut has the 5th highest population aged 65 and over in the U.S.
- Poverty tax exemptions help low-income seniors reduce their tax burden
- The trend has declined by 10% over the past decade
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of poverty tax exemptions claimed by Connecticut residents aged 65 and older, which indicates the financial well-being of the state's senior population.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic security of older adults in Connecticut, which is crucial for policymakers and analysts to evaluate the effectiveness of programs and policies aimed at supporting the state's senior citizens.
Q: How is this data collected or calculated?
A: The data is collected through state tax filings and tabulated by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and economists to assess the financial security and cost-of-living challenges faced by Connecticut's senior citizens, which informs the development and evaluation of programs and policies aimed at supporting the state's older adult population.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and limitations of state tax filing and Census Bureau reporting.
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Citation
U.S. Census Bureau, Age 65 and Over, Poverty Tax Exemptions for Connecticut (PAGEXMCT9A647NCEN), retrieved from FRED.