Age 65 and Over, Poverty Tax Exemptions for New Mexico
This dataset tracks age 65 and over, poverty tax exemptions for new mexico over time.
Latest Value
66500.00
Year-over-Year Change
73.80%
Date Range
1/1/1989 - 1/1/2022
Summary
This trend measures the number of poverty tax exemptions claimed by New Mexico residents aged 65 and older. It provides insight into the economic well-being and tax burden 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 New Mexico trend tracks the number of individuals aged 65 and above who claim a poverty-related tax exemption when filing their state income taxes. This data point is used by policymakers and economists to evaluate the economic security of New Mexico's senior citizens.
Methodology
The data is collected annually by the U.S. Census Bureau through its population surveys.
Historical Context
This trend helps inform decisions around state-level policies and programs aimed at supporting low-income older adults in New Mexico.
Key Facts
- New Mexico has the highest poverty rate among adults aged 65 and over in the U.S.
- The poverty tax exemption helps reduce the tax burden for low-income seniors in the state.
- The number of poverty tax exemptions claimed has declined in recent years despite rising senior poverty.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of poverty tax exemptions claimed by New Mexico residents aged 65 and older when filing their state income taxes.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the economic well-being and tax burden of New Mexico's senior population, which is useful for policymakers and economists evaluating programs and policies aimed at supporting low-income older adults.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Census Bureau through its population surveys.
Q: How is this trend used in economic policy?
A: This trend helps inform decisions around state-level policies and programs in New Mexico that are intended to support the financial security of low-income older adults.
Q: Are there update delays or limitations?
A: The data is released annually, so there may be a delay of up to a year before the most recent figures are available.
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Citation
U.S. Federal Reserve, Age 65 and Over, Poverty Tax Exemptions for New Mexico (PAGEXMNM35A647NCEN), retrieved from FRED.