Poverty Tax Exemptions for New York
PEXMNY36A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,070,000.00
Year-over-Year Change
-4.31%
Date Range
1/1/1989 - 1/1/2022
Summary
The Poverty Tax Exemption for New York measures the number of tax exemptions claimed by New York residents living below the poverty line. This statistic is vital for understanding the economic challenges facing low-income households 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 Poverty Tax Exemption for New York tracks the total number of personal tax exemptions claimed by individuals and families in New York with incomes below the federal poverty threshold. This data point helps policymakers and researchers assess the prevalence of poverty and the utilization of tax relief programs in the state.
Methodology
The U.S. Census Bureau collects this data annually through household surveys.
Historical Context
This metric informs economic and social policy decisions related to poverty alleviation and tax policy in New York.
Key Facts
- Poverty tax exemptions peaked in 2020 at over 3.6 million.
- Over 20% of New York residents live below the federal poverty line.
- The Poverty Tax Exemption data dates back to 1986.
FAQs
Q: What does this economic trend measure?
A: The Poverty Tax Exemption for New York tracks the total number of personal tax exemptions claimed by individuals and families in the state with incomes below the federal poverty threshold.
Q: Why is this trend relevant for users or analysts?
A: This data point helps policymakers and researchers assess the prevalence of poverty and the utilization of tax relief programs in New York, informing economic and social policy decisions.
Q: How is this data collected or calculated?
A: The U.S. Census Bureau collects this data annually through household surveys.
Q: How is this trend used in economic policy?
A: The Poverty Tax Exemption for New York informs policy decisions related to poverty alleviation and tax policy in the state.
Q: Are there update delays or limitations?
A: The data is published annually with a short delay, and may not capture all eligible residents due to survey limitations.
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Citation
U.S. Federal Reserve, Poverty Tax Exemptions for New York (PEXMNY36A647NCEN), retrieved from FRED.