State Government Tax Collections, Property Taxes in Washington
WAPROPTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,614,073.00
Year-over-Year Change
143.22%
Date Range
1/1/1942 - 1/1/2024
Summary
This trend measures property tax collections by the state government of Washington. It is an important indicator of state fiscal conditions and revenue sources.
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 Government Tax Collections, Property Taxes in Washington trend represents the total revenue from property taxes collected by the Washington state government. This data is used by economists and policymakers to analyze the state's tax base, fiscal policy, and budgetary trends.
Methodology
The data is collected through state government revenue reporting.
Historical Context
This metric informs discussions around state tax policy, public spending, and economic growth.
Key Facts
- Washington's state government collected $7.1 billion in property taxes in 2021.
- Property taxes account for 25% of total state tax revenue in Washington.
- Washington has no state income tax, making property taxes a crucial revenue source.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue from property taxes collected by the Washington state government. It represents an important source of state fiscal resources.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into Washington's tax base, fiscal policy, and budgetary conditions, which are crucial for understanding the state's economic and policy environment.
Q: How is this data collected or calculated?
A: The data is collected through state government revenue reporting.
Q: How is this trend used in economic policy?
A: This metric informs discussions around state tax policy, public spending, and economic growth in Washington.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically several months after the end of the reporting period.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Property Taxes in Washington (WAPROPTAX), retrieved from FRED.