Massachusetts Fiscal Statistics

StatisNostics/State Financials/Massachusetts

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20122021

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State Revenue Analysis (Massachusetts: 2012–2021)

Population: 6,655,829 → 6,892,503 (3.6% change)

Overall Revenue Trends

Total Revenue▲ 62.1%

$47,979,026,000 (2012)→$77,773,484,000 (2021)

Per Capita Revenue▲ 56.5%

$7,209 (2012)→$11,284 (2021)

Fund Balances▲ 23.1%

$39,143,316,000 (2012)→$48,191,624,000 (2021)

Revenue Volatility✓ Low

Avg. fluctuation: 6.0%

Major Tax Revenue

Property Tax▲ 133.5%

$4,441,000 (2012)→$10,368,000 (2021)

Sales Tax▲ 53.3%

$5,079,105,000 (2012)→$7,785,108,000 (2021)

Utility Revenue

Water Utilities▲ 45%

$193,001,000 (2012)→$279,921,000 (2021)

Sewerage Charges▲ 23.6%

$410,552,000 (2012)→$507,326,000 (2021)

Growth Analysis

Fastest Growing Revenue Sources

Hospital Charges▲ 46143.8%

$105,000→$48,556,000

Amusement Tax▲ 7188.8%

$3,082,000→$224,641,000

Elementary Secondary Education School Lunch Charges▲ 2534.9%

$83,000→$2,187,000

Declining/Slowest Growing Sources

Rents▼ 98.8%

$77,823,000→$950,000

Workers Compensation - Other Contributions▼ 76.0%

$88,838,000→$21,300,000

Parks & Recreation Charges▼ 68.4%

$49,678,000→$15,688,000

Revenue Forecast

Projected Revenue (Next Year)▲ 9.8%

Estimated: $85,369,410,052

Based on 3-year revenue trend

Revenue Composition

2012 Revenue Sources

Individual Income Tax24.9%

Federal Intergovernmental Public Welfare16.6%

Total General Sales Taxes10.6%

Corporation Net Income Tax4.2%

Unemployment - Contribution4.0%

Higher Education Tuition Charges3.7%

Federal Intergovernmental Education3.4%

Miscellaneous General Revenue Not Elsewhere Classified3.1%

Interest Earnings2.7%

Federal Intergovernmental Housing & Community Development2.3%

Net Lottery Revenue2.2%

Toll Highway Charges1.6%

Motor Fuels Sales Tax1.4%

Federal Intergovernmental Other1.3%

Federal Intergovernmental Highways1.2%

Air Transportation Charges1.2%

Tobacco Sales Tax1.2%

Other Selective Sales Taxes1.1%

Federal Intergovernmental Health & Hospitals1.1%

Higher Education Auxiliary Charges1.0%

All Other Not Elsewhere Classified Charges1.0%

Transit Utilities Revenue1.0%

Sewerage Charges0.9%

Motor Vehicle License0.8%

Insurance Premium Tax0.7%

Local Intergovernmental Other0.7%

Death & Gift Tax0.6%

Occupation & Business License Not Elsewhere Classified0.5%

Federal Intergovernmental Transit Utilities0.5%

Donations From Private Sources0.5%

Federal Intergovernmental Employment Security Administration0.4%

Water Utilities Revenue0.4%

Documentary & Stock Transfer Tax0.4%

Taxes Not Elsewhere Classified0.3%

Other License Tax0.3%

Fines & Forfeits0.3%

Motor Vehicle Operators License0.2%

Workers Compensation - Other Contributions0.2%

Other In Trust - Other Contributions0.2%

Alcoholic Beverage Sales Tax0.2%

Rents0.2%

Federal Intergovernmental Other Natural Resources0.2%

Water Transportation & Terminal Charges0.2%

Regular Highway Charges0.1%

Federal Intergovernmental Sewerage0.1%

Parks & Recreation Charges0.1%

Federal Intergovernmental Air Transportation0.1%

Corporation License Tax0.1%

Public Utilities Tax0.0%

Natural Resources Not Elsewhere Classified Charges0.0%

Federal Intergovernmental Water Utilities0.0%

Electric Utilities Revenue0.0%

Local Intergovernmental Education0.0%

Federal Intergovernmental Electric Utilities0.0%

Unemployment - Interest Revenue0.0%

Hunting & Fishing License0.0%

Sale of Property0.0%

Property Tax0.0%

Amusement Tax0.0%

Housing & Community Development Charges0.0%

Alcoholic Beverage License Tax0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Parimutuels Tax0.0%

Amusement License Tax0.0%

Local Intergovernmental Sewerage0.0%

Hospital Charges0.0%

Elementary Secondary Education School Lunch Charges0.0%

Local Intergovernmental Water Utilities0.0%

Workers Compensation - Interest Earnings0.0%

2021 Revenue Sources

Individual Income Tax25.3%

Federal Intergovernmental Public Welfare17.9%

Total General Sales Taxes10.0%

Federal Intergovernmental Health & Hospitals9.3%

Corporation Net Income Tax4.7%

Miscellaneous General Revenue Not Elsewhere Classified2.9%

Unemployment - Contribution2.9%

Higher Education Tuition Charges2.7%

Federal Intergovernmental Education2.3%

Net Lottery Revenue2.0%

Federal Intergovernmental Transit Utilities1.6%

Federal Intergovernmental Housing & Community Development1.4%

Interest Earnings1.4%

Toll Highway Charges1.1%

Death & Gift Tax1.0%

Other Selective Sales Taxes0.9%

All Other Not Elsewhere Classified Charges0.9%

Motor Fuels Sales Tax0.9%

Federal Intergovernmental Highways0.8%

Federal Intergovernmental Other0.8%

Local Intergovernmental Other0.8%

Air Transportation Charges0.7%

Insurance Premium Tax0.7%

Other In Trust - Other Contributions0.7%

Sewerage Charges0.7%

Documentary & Stock Transfer Tax0.6%

Motor Vehicle License0.6%

Tobacco Sales Tax0.5%

Occupation & Business License Not Elsewhere Classified0.5%

Other License Tax0.4%

Water Utilities Revenue0.4%

Higher Education Auxiliary Charges0.3%

Federal Intergovernmental Employment Security Administration0.3%

Amusement Tax0.3%

Donations From Private Sources0.3%

Transit Utilities Revenue0.2%

Regular Highway Charges0.2%

Fines & Forfeits0.2%

Water Transportation & Terminal Charges0.2%

Alcoholic Beverage Sales Tax0.1%

Motor Vehicle Operators License0.1%

Federal Intergovernmental Air Transportation0.1%

Federal Intergovernmental Sewerage0.1%

Hospital Charges0.1%

Federal Intergovernmental Other Natural Resources0.1%

Local Intergovernmental Education0.0%

Natural Resources Not Elsewhere Classified Charges0.0%

Federal Intergovernmental Water Utilities0.0%

Corporation License Tax0.0%

Workers Compensation - Other Contributions0.0%

Electric Utilities Revenue0.0%

Parks & Recreation Charges0.0%

Housing & Community Development Charges0.0%

Amusement License Tax0.0%

Property Tax0.0%

Sale of Property0.0%

Hunting & Fishing License0.0%

Alcoholic Beverage License Tax0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Elementary Secondary Education School Lunch Charges0.0%

Parimutuels Tax0.0%

Rents0.0%

Workers Compensation - Interest Earnings0.0%

Elementary Secondary Education Not Elsewhere Classified Charges0.0%

Key Insights

1Total revenue increased by 62.1% from 2012 to 2021, representing a significant change in the state's financial position.
2Population changed by 3.6%, while per-capita revenue changed by 56.5%.
3The state's fund balances increased by 23.1%, suggesting improved fiscal health.

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State Expense Analysis (Massachusetts: 2012 - 2021)

Total Expenditure Trends

Operating Expenditures▲ 40%

$17,120,842,000→$23,929,009,000

Per Capita Spending▲ 35%

$2,572→$3,472

Population Trends

Population Change▲ 3.6%

6,655,829 (2012)→6,892,503 (2021)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▼ 22%

$0 (2012)→$0 (2021)

Fire Protection▼ 0%

$0 (2012)→$0 (2021)

Infrastructure Expenses

Highways Maintenance▲ 46%

$0 (2012)→$0 (2021)

Sewerage Operations▲ 3%

$0 (2012)→$0 (2021)

Administrative Expenses

Financial Administration▲ 53%

$0 (2012)→$0 (2021)

General Expenses▲ 57%

$0 (2012)→$0 (2021)

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State Debt Analysis (2012-2021)

Debt Trends

Total Long-Term Debt▲ 18%

$49,756,960,000 (2012)→$58,854,196,000 (2021)

Industrial Revenue Debt▲ 1%

$20,387,160,000 (2012)→$20,566,986,000 (2021)

Per Capita Debt▲ 14%

$7,476 (2012)→$8,539 (2021)

Population Trends

Population Change▲ 3.6%

6,655,829 (2012)→6,892,503 (2021)

Debt Management

Most Recent Year (2021)

Issued:$9,152,461,000

Retired:$7,546,109,000

Net Change:+$1,606,352,000

Debt Retirement Trend

$3,654,413,000 → $7,546,109,000▲ 106%

🔄 Significant change in retirement strategy detected

Key Insights

1There appears to be a significant shift in debt management strategy between 2012-2021, with a move toward higher debt levels.