National Totals of State and Local Tax Revenue: Total Taxes for the United States
This dataset tracks national totals of state and local tax revenue: total taxes for the united states over time.
Latest Value
538263.00
Year-over-Year Change
5.39%
Date Range
1/1/2009 - 1/1/2025
Summary
The National Totals of State and Local Tax Revenue: Total Taxes for the United States tracks the aggregate tax revenue collected by state and local governments across the country. This key metric provides insight into the fiscal health and policies of subnational governments.
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
This economic series represents the total tax revenue raised by all state and local governments in the United States. It includes income taxes, sales taxes, property taxes, and other sources of public sector funding. The data is used by economists, policymakers, and analysts to evaluate the fiscal conditions and policy decisions of state and local governments.
Methodology
The data is collected and aggregated by the U.S. Census Bureau through surveys of state and local tax authorities.
Historical Context
Policymakers and markets monitor this trend to understand the spending capacity and policy environment of subnational governments.
Key Facts
- State and local governments collected over $2 trillion in total tax revenue in 2021.
- Tax revenue has grown at an average annual rate of 4.3% over the past decade.
- Property taxes account for the largest share of state and local tax collections.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by state and local governments across the United States, including income taxes, sales taxes, property taxes, and other sources of public sector funding.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the fiscal health and policy decisions of subnational governments, which is critical information for economists, policymakers, and market participants.
Q: How is this data collected or calculated?
A: The data is collected and aggregated by the U.S. Census Bureau through surveys of state and local tax authorities.
Q: How is this trend used in economic policy?
A: Policymakers and markets monitor this trend to understand the spending capacity and policy environment of state and local governments, which have a significant impact on the broader economy.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months, so there may be a delay in reflecting the most recent fiscal conditions of state and local governments.
Related News
U.S. Trade Deficit Decreases As Businesses Anticipate Tariff Hikes
U.S. Trade Deficit Reaches Two-Year Low Amid Anticipated Tariff Hikes The recent announcement that the U.S. trade deficit has reached a two-year low signals significant developments for the national economy. This change may, in part, be influenced by the anticipation of tariff hikes, which are affecting trade patterns. As this event unfolds, it has implications for the U.S. GDP, underscoring the importance of reducing the trade deficit. Trade tensions have long shaped the global economic landsc
U.S. Job Growth Slowdown Affects Unemployment Rate
The Impact of Weak Job Growth on the US Unemployment Rate The unemployment rate has always been a vital gauge to understand the United States' economic health. Recent times have brought this indicator into sharper focus, especially as weak job growth continues to challenge the nation’s economy. The pressures of a sluggish labor market may lead to more significant economic consequences, impacting not just the workforce but the broader fiscal landscape. Weak job growth, leading to an increased un
Falling Mortgage Rates: Expert Advice for U.S. Homebuyers and Sellers
Expert Tips for Homebuyers and Sellers as Mortgage Rates Drop Mortgage rates are making headlines as they continue to decline, promising significant impacts on both homebuyers and sellers. These shifts in the real estate landscape invite a closer look at how adjustments in economic indicators, such as the federal funds rate and the 10-year treasury yield chart, are playing a part in this development. The U.S. housing market is reacting in intriguing ways, offering potential advantages for those
Unpredictability of Interest Rate Direction in the United States
Navigating the Unpredictability of Interest Rates Interest rates have turned into one of the most unpredictable elements in the American financial landscape. This unpredictability stems largely from the nuanced decisions of the Federal Reserve, often referred to as the Fed, whose policies ripple through financial markets, influencing borrowing costs for everyone from ambitious entrepreneurs to families securing mortgages. The web of economic indicators, which serves as the backbone for interest
Impact of U.S. Treasury Yields Rise After Fed Rate Cut
The Impact of a Treasury Yield Rise on the U.S. Economy After a Fed Rate Cut The current rise in the 10-year Treasury bond rate has caught the attention of economists, investors, and policymakers alike. Treasury yields, particularly the 10-year Treasury bond rate, act as a key indicator of the economic outlook in the United States. They affect interest rates, the bond market, and expectations for inflation. Understanding their fluctuations can offer insight into financial markets and help guide
U.S. Jobless Claims Spike, Followed By Decline, Layoffs Remain Low
U.S. Jobless Claims Spike and Decline: Insights into Labor Market Trends U.S. jobless claims recently spiked, only to decline soon after, highlighting interesting patterns in the labor market. At the heart of these shifts lies a tale of layoffs and employment dynamics that paint a picture of the U.S. economy's current state. These fluctuations in jobless claims explain broader economic metrics like the unemployment rate and employment rate. This overview offers a window into the complex interpl
Related Trends
Consumer Price Index for All Urban Consumers: All Items in U.S. City Average
CPIAUCNS
Capacity Utilization: Total Index
TCU
Commercial and Industrial Loans, All Commercial Banks
TOTCI
Share of Foreign Born in Home Owners Loan Corporation (HOLC) Neighborhood A
RLMSHFBHOLCNA
Home Ownership Rate in Home Owners Loan Corporation (HOLC) Neighborhood C
RLMSHHORHOLCNC
Share of Foreign Born in Home Owners Loan Corporation (HOLC) Neighborhood C
RLMSHFBHOLCNC
Citation
U.S. Federal Reserve, National Totals of State and Local Tax Revenue: Total Taxes for the United States (QTAXTOTALQTAXCAT1USYES), retrieved from FRED.