State Tax Collections: T24 Motor Vehicles License for Maine
QTAXT24QTAXCAT3MENO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.00
Year-over-Year Change
3.23%
Date Range
1/1/1994 - 1/1/2025
Summary
This trend measures the total tax revenue collected by the state of Maine from motor vehicle license fees. It provides insight into consumer behavior and transportation activity 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 State Tax Collections: T24 Motor Vehicles License for Maine metric tracks the quarterly tax revenue generated by the state of Maine from fees paid for the registration and licensing of motor vehicles. This data point is used by economists and policymakers to analyze trends in consumer spending, transportation usage, and the overall strength of the state's economy.
Methodology
The data is collected by the U.S. Census Bureau through state-level tax revenue reporting.
Historical Context
This metric is used to inform transportation and infrastructure policy decisions at the state level.
Key Facts
- Maine collects over $100 million annually in motor vehicle license fees.
- The tax revenue from this source accounts for approximately 5% of the state's total tax collections.
- Motor vehicle registrations in Maine have increased by 12% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the state of Maine from motor vehicle license fees, providing insight into transportation activity and consumer spending in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is used by economists and policymakers to analyze trends in consumer behavior, transportation usage, and the overall strength of Maine's economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through state-level tax revenue reporting.
Q: How is this trend used in economic policy?
A: This metric informs transportation and infrastructure policy decisions at the state level in Maine.
Q: Are there update delays or limitations?
A: The data is reported quarterly, with a typical 2-3 month delay in availability.
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Citation
U.S. Federal Reserve, State Tax Collections: T24 Motor Vehicles License for Maine (QTAXT24QTAXCAT3MENO), retrieved from FRED.