Poverty Tax Exemptions for Texas
This dataset tracks poverty tax exemptions for texas over time.
Latest Value
5060000.00
Year-over-Year Change
9.14%
Date Range
1/1/1989 - 1/1/2022
Summary
The Poverty Tax Exemptions for Texas trend measures the number of exemptions claimed for low-income households in the state. This data provides important insights into poverty and financial hardship across Texas communities.
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 Texas series tracks the number of tax exemptions claimed by low-income residents in the state. This metric helps economists and policymakers understand the prevalence and geographic distribution of poverty and economic distress.
Methodology
The data is collected annually from state tax filings.
Historical Context
Poverty exemption data is used to inform social welfare programs and equitable policy decisions.
Key Facts
- Texas has the second-highest poverty rate in the U.S.
- Poverty exemptions provide tax relief for low-income households
- The number of poverty exemptions claimed has increased over the past decade
FAQs
Q: What does this economic trend measure?
A: The Poverty Tax Exemptions for Texas series tracks the number of tax exemptions claimed by low-income residents in the state. This provides a metric for understanding the prevalence of poverty across Texas.
Q: Why is this trend relevant for users or analysts?
A: This data is important for economists and policymakers to assess the financial hardship faced by Texas households and inform social welfare programs and equitable policy decisions.
Q: How is this data collected or calculated?
A: The data is collected annually from state tax filings.
Q: How is this trend used in economic policy?
A: Poverty exemption data is used to understand the geographic distribution of economic distress and guide the allocation of social services and anti-poverty initiatives.
Q: Are there update delays or limitations?
A: The data is published annually, so there may be a 1-year lag in the most recent figures.
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Citation
U.S. Federal Reserve, Poverty Tax Exemptions for Texas (PEXMTX48A647NCEN), retrieved from FRED.