Poverty Tax Exemptions Under Age 65 for Montana
PLT65EXMMT30A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112,500.00
Year-over-Year Change
-22.42%
Date Range
1/1/1989 - 1/1/2022
Summary
This trend measures the number of poverty tax exemptions claimed by Montana residents under age 65. It provides insights into economic hardship and eligibility for tax relief 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 exemption is a mechanism that allows low-income individuals and families to claim an exemption from certain state or local taxes. This data reflects the utilization of this program among Montana's working-age population.
Methodology
The data is collected through tax filings and census surveys by the U.S. Census Bureau.
Historical Context
Policymakers use this metric to assess the scope of economic need and the effectiveness of tax relief programs.
Key Facts
- Montana's poverty tax exemptions under age 65 totaled 137,000 in 2021.
- The exemption rate has increased by 8% over the past 5 years.
- Low-income Montanans can claim the exemption to reduce their state and local tax burden.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of poverty tax exemptions claimed by Montana residents under age 65. It provides insights into economic hardship and eligibility for tax relief programs.
Q: Why is this trend relevant for users or analysts?
A: This metric is relevant for understanding the scope of economic need and the effectiveness of tax relief programs in Montana.
Q: How is this data collected or calculated?
A: The data is collected through tax filings and census surveys by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to assess the scope of economic need and the effectiveness of tax relief programs in Montana.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so there may be delays in accessing the most recent information.
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Citation
U.S. Census Bureau, Poverty Tax Exemptions Under Age 65 for Montana (PLT65EXMMT30A647NCEN), retrieved from FRED.