Age 65 and Over, Poverty Tax Exemptions for Utah
PAGEXMUT49A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
45,000.00
Year-over-Year Change
60.07%
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 the state of Utah. It provides insight into the financial well-being and economic security of the elderly population 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 Age 65 and Over, Poverty Tax Exemptions for Utah metric tracks the number of tax exemptions claimed by residents aged 65 and older who meet income requirements to qualify for poverty-level tax relief. This data point is useful for analyzing the economic status and financial hardship faced by the elderly in Utah.
Methodology
The data is collected through annual tax filings and compiled by the U.S. Census Bureau.
Historical Context
This trend is used by policymakers and economists to assess the effectiveness of social programs and tax policies in supporting the financial security of Utah's senior citizens.
Key Facts
- The number of poverty tax exemptions for seniors in Utah was 49,647 in the latest year.
- Utah's elderly poverty tax exemption rate is higher than the national average.
- Trends in this metric can indicate the financial struggles of low-income seniors in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of poverty tax exemptions claimed by individuals aged 65 and over in the state of Utah. It provides insight into the financial well-being of the elderly population in the state.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the economic security and financial hardship faced by senior citizens in Utah. It can inform policymakers and economists about the effectiveness of social programs and tax policies in supporting the elderly.
Q: How is this data collected or calculated?
A: The data is collected through annual tax filings and compiled 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 effectiveness of social programs and tax policies in supporting the financial security of Utah's senior citizens.
Q: Are there update delays or limitations?
A: The data is subject to the annual tax filing and reporting cycle, which may result in some delay in the availability of the most recent information.
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Citation
U.S. Federal Reserve, Age 65 and Over, Poverty Tax Exemptions for Utah (PAGEXMUT49A647NCEN), retrieved from FRED.