Poverty Tax Exemptions for Arkansas
This dataset tracks poverty tax exemptions for arkansas over time.
Latest Value
498000.00
Year-over-Year Change
-6.81%
Date Range
1/1/1989 - 1/1/2022
Summary
The Poverty Tax Exemptions for Arkansas metric tracks the number of individuals in Arkansas who qualify for and claim tax exemptions due to low income levels. This data point is crucial for understanding the prevalence of poverty and evaluating the effectiveness of state-level anti-poverty programs.
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 Tax Exemptions for Arkansas statistic represents the total number of Arkansans who filed for and received tax exemptions based on their poverty-level incomes. This helps quantify the scope of financial hardship faced by low-income households in the state and informs policymakers' decisions around social services and economic assistance programs.
Methodology
The data is collected annually by the U.S. Census Bureau through household surveys and tax return filings.
Historical Context
Poverty tax exemptions are an important indicator used by economists, lawmakers, and social services agencies to assess the need for anti-poverty initiatives and track progress in reducing financial insecurity.
Key Facts
- Arkansas has seen a steady decline in poverty tax exemptions over the past decade.
- The number of Arkansans claiming poverty exemptions is higher in rural counties compared to urban areas.
- Poverty tax exemptions make up a significant portion of total individual tax filings in Arkansas.
FAQs
Q: What does this economic trend measure?
A: The Poverty Tax Exemptions for Arkansas metric tracks the number of individuals in the state who qualify for and claim tax exemptions due to low-income levels.
Q: Why is this trend relevant for users or analysts?
A: This data point is crucial for understanding the prevalence of poverty in Arkansas and evaluating the effectiveness of state-level anti-poverty programs.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Census Bureau through household surveys and tax return filings.
Q: How is this trend used in economic policy?
A: Poverty tax exemptions are an important indicator used by economists, lawmakers, and social services agencies to assess the need for anti-poverty initiatives and track progress in reducing financial insecurity.
Q: Are there update delays or limitations?
A: The data is published annually with a slight delay, and may not capture all poverty-level individuals due to incomplete tax filing.
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Citation
U.S. Federal Reserve, Poverty Tax Exemptions for Arkansas (PEXMAR5A647NCEN), retrieved from FRED.