Massachusetts Fiscal Statistics

StatisNostics/State Financials/Massachusetts
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20122022
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State Revenue Analysis (Massachusetts: 2012–2022)

Population: 6,655,829 → 6,893,574 (3.6% change)

Overall Revenue Trends

Total Revenue▲ 76.1%
$47,979,026,000 (2012)→$84,472,106,000 (2022)
Per Capita Revenue▲ 70%
$7,209 (2012)→$12,254 (2022)
Fund Balances▼ 100%
$39,143,316,000 (2012)→$0 (2022)
Revenue Volatility✓ Low
Avg. fluctuation: 6.3%

Major Tax Revenue

Property Tax▲ 192.6%
$4,441,000 (2012)→$12,996,000 (2022)
Sales Tax▲ 71.6%
$5,079,105,000 (2012)→$8,716,276,000 (2022)

Utility Revenue

Water Utilities▲ 50.8%
$193,001,000 (2012)→$291,097,000 (2022)
Sewerage Charges▲ 27.2%
$410,552,000 (2012)→$522,029,000 (2022)

Growth Analysis

Fastest Growing Revenue Sources

Hospital Charges▲ 40545.7%
$105,000→$42,678,000
Amusement Tax▲ 9682.9%
$3,082,000→$301,510,000
Amusement License Tax▲ 2916.7%
$436,000→$13,153,000

Declining/Slowest Growing Sources

Rents▼ 98.1%
$77,823,000→$1,461,000
Interest Earnings▼ 70.9%
$1,280,350,000→$372,198,000
Local Intergovernmental Education▼ 51.8%
$13,264,000→$6,390,000

Revenue Forecast

Projected Revenue (Next Year)▲ 11.6%
Estimated: $94,307,317,268
Based on 3-year revenue trend

Revenue Composition

2012 Revenue Breakdown

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%

2022 Revenue Breakdown

Individual Income Tax28.9%
Federal Intergovernmental Public Welfare18.5%
Total General Sales Taxes10.3%
Corporation Net Income Tax5.4%
Miscellaneous General Revenue Not Elsewhere Classified3.4%
Federal Intergovernmental Health & Hospitals3.3%
Federal Intergovernmental Education3.3%
Federal Intergovernmental Other2.9%
Higher Education Tuition Charges2.4%
Net Lottery Revenue1.8%
Other In Trust - Other Contributions1.7%
Unemployment - Contribution1.5%
Federal Intergovernmental Housing & Community Development1.4%
Toll Highway Charges1.2%
Other Selective Sales Taxes1.1%
Death & Gift Tax1.0%
Air Transportation Charges1.0%
All Other Not Elsewhere Classified Charges0.9%
Motor Fuels Sales Tax0.9%
Local Intergovernmental Other0.7%
Insurance Premium Tax0.7%
Higher Education Auxiliary Charges0.7%
Federal Intergovernmental Highways0.7%
Documentary & Stock Transfer Tax0.6%
Sewerage Charges0.6%
Motor Vehicle License0.5%
Occupation & Business License Not Elsewhere Classified0.5%
Tobacco Sales Tax0.5%
Interest Earnings0.4%
Transit Utilities Revenue0.4%
Amusement Tax0.4%
Other License Tax0.3%
Water Utilities Revenue0.3%
Donations From Private Sources0.3%
Federal Intergovernmental Employment Security Administration0.2%
Fines & Forfeits0.2%
Alcoholic Beverage Sales Tax0.1%
Water Transportation & Terminal Charges0.1%
Motor Vehicle Operators License0.1%
Regular Highway Charges0.1%
Workers Compensation - Other Contributions0.1%
Federal Intergovernmental Air Transportation0.1%
Parks & Recreation Charges0.1%
Federal Intergovernmental Sewerage0.1%
Federal Intergovernmental Other Natural Resources0.1%
Hospital Charges0.1%
Corporation License Tax0.0%
Natural Resources Not Elsewhere Classified Charges0.0%
Electric Utilities Revenue0.0%
Amusement License Tax0.0%
Property Tax0.0%
Unemployment - Interest Revenue0.0%
Housing & Community Development Charges0.0%
Sale of Property0.0%
Local Intergovernmental Education0.0%
Hunting & Fishing License0.0%
Other In Trust - Interest Revenue0.0%
Alcoholic Beverage License Tax0.0%
Education Other State Charges Not Elsewhere Classified0.0%
Rents0.0%
Parimutuels Tax0.0%
Elementary Secondary Education School Lunch Charges0.0%
Workers Compensation - Interest Earnings0.0%
Elementary Secondary Education Not Elsewhere Classified Charges0.0%

Key Insights

  1. 1Total revenue increased by 76.1% from 2012 to 2022, representing a significant change in the state's financial position.
  2. 2Utility revenue growth was exceptional, with water up 50.8% and sewerage up 27.2%, suggesting infrastructure expansion or rate adjustments.
  3. 3Population changed by 3.6%, while per-capita revenue changed by 70.0%.
  4. 4The state's fund balances decreased by 100%, suggesting financial challenges or major capital expenditures.
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State Expense Analysis (Massachusetts: 2012 - 2022)

Total Expenditure Trends

Operating Expenditures▲ 219%
$17,120,842,000→$54,583,165,000
Per Capita Spending▲ 208%
$2,572→$7,918

Population Trends

Population Change▲ 3.6%
6,655,829 (2012)→6,893,574 (2022)
⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▼ 17%
$680,739,000 (2012)→$567,045,000 (2022)
Fire Protection▼ 0%
$0 (2012)→$0 (2022)

Infrastructure Expenses

Highways Maintenance▲ 56%
$437,813,000 (2012)→$684,006,000 (2022)
Sewerage Operations▼ 0%
$168,062,000 (2012)→$167,233,000 (2022)

Administrative Expenses

Financial Administration▲ 69%
$571,734,000 (2012)→$966,325,000 (2022)
General Expenses▲ 31%
$2,053,203,000 (2012)→$2,686,635,000 (2022)

Massachusetts Key Insights

  1. 1Per capita expenditures grew by 208%, indicating substantial service expansion or cost increases not explained by population growth alone
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State Debt Analysis (2012-2022)

Debt Trends

Total Long-Term Debt▲ 30%
$49,756,960,000 (2012)→$64,916,972,000 (2022)
Industrial Revenue Debt▼ 100%
$20,387,160,000 (2012)→$0 (2022)
Per Capita Debt▲ 26%
$7,476 (2012)→$9,417 (2022)

Population Trends

Population Change▲ 3.6%
6,655,829 (2012)→6,893,574 (2022)

Debt Management

Most Recent Year (2022)

Issued:$6,640,778,000
Retired:$7,091,447,000
Net Change:$-450,669,000

Debt Retirement Trend

$3,654,413,000 → $7,091,447,000▲ 94%
🔄 Significant change in retirement strategy detected

Key Insights

  1. 1There appears to be a significant shift in debt management strategy between 2012-2022, with a move toward higher debt levels.