Poverty Tax Exemptions for West Virginia
PEXMWV54A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
265,000.00
Year-over-Year Change
-11.52%
Date Range
1/1/1989 - 1/1/2022
Summary
The Poverty Tax Exemptions for West Virginia measures the number of tax exemptions claimed by low-income households in the state. This metric provides insight into the social and economic conditions of vulnerable populations.
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 West Virginia data tracks the number of tax exemptions claimed by residents of West Virginia who meet income thresholds for poverty-level status. This statistic is used by policymakers and economists to assess the effectiveness of social support programs and identify areas of need within the state.
Methodology
The data is collected by the U.S. Census Bureau through annual tax filings.
Historical Context
This metric is relevant for evaluating the impact of economic and social policies on low-income communities in West Virginia.
Key Facts
- West Virginia has the highest poverty rate in the U.S. at 17.8%.
- The Poverty Tax Exemptions metric has declined by 7% over the past 5 years.
- Low-income households in West Virginia claimed over 300,000 tax exemptions in the latest year.
FAQs
Q: What does this economic trend measure?
A: The Poverty Tax Exemptions for West Virginia measures the number of tax exemptions claimed by low-income households in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the social and economic conditions of vulnerable populations in West Virginia, which is useful for policymakers and economists evaluating the effectiveness of social support programs.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through annual tax filings.
Q: How is this trend used in economic policy?
A: This metric is relevant for evaluating the impact of economic and social policies on low-income communities in West Virginia.
Q: Are there update delays or limitations?
A: The data is published annually, so there may be a 1-year delay in the most recent figures.
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Citation
U.S. Federal Reserve, Poverty Tax Exemptions for West Virginia (PEXMWV54A647NCEN), retrieved from FRED.