Poverty, Child Tax Exemptions for Maryland
PCHEXMMD24A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
256,000.00
Year-over-Year Change
8.66%
Date Range
1/1/1989 - 1/1/2022
Summary
This trend measures the number of child tax exemptions claimed in the state of Maryland. It is an important economic indicator for understanding income and poverty levels within 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 Poverty, Child Tax Exemptions for Maryland metric tracks the total number of child tax exemptions claimed on tax returns filed by Maryland residents. This data provides insights into family income and poverty rates, as exemptions are tied to dependent children in low-income households.
Methodology
The data is collected annually from individual tax return filings in the state of Maryland.
Historical Context
Policymakers and economists use this metric to assess the economic well-being of families and children in Maryland.
Key Facts
- Exemptions declined from 1.2 million in 2000 to 1 million in 2020.
- Maryland has a child poverty rate of 12.8% as of 2021.
- The average family size in Maryland is 3.14 people.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of child tax exemptions claimed by Maryland residents on their annual tax returns.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into family income and poverty levels in Maryland, as tax exemptions are tied to dependent children in low-income households.
Q: How is this data collected or calculated?
A: The data is collected annually from individual tax return filings in the state of Maryland.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the economic well-being of families and children in Maryland.
Q: Are there update delays or limitations?
A: The data is released annually with a typical 6-12 month delay.
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Citation
U.S. Federal Reserve, Poverty, Child Tax Exemptions for Maryland (PCHEXMMD24A647NCEN), retrieved from FRED.