Massachusetts Fiscal Statistics

StatisNostics/State Financials/Massachusetts

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20122023

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State Revenue Analysis (Massachusetts: 2012–2023)

Population: 6,655,829 → 6,984,723 (4.9% change)

Overall Revenue Trends

Total Revenue▲ 73.9%

$47,979,026,000 (2012)→$83,459,463,000 (2023)

Per Capita Revenue▲ 65.8%

$7,209 (2012)→$11,949 (2023)

Fund Balances▼ 100%

$39,143,316,000 (2012)→$0 (2023)

Revenue Volatility✓ Low

Avg. fluctuation: 5.8%

Major Tax Revenue

Property Tax▲ 216.9%

$4,441,000 (2012)→$14,073,000 (2023)

Sales Tax▲ 84.2%

$5,079,105,000 (2012)→$9,353,642,000 (2023)

Utility Revenue

Water Utilities▲ 58.4%

$193,001,000 (2012)→$305,711,000 (2023)

Sewerage Charges▲ 29.8%

$410,552,000 (2012)→$532,766,000 (2023)

Growth Analysis

Fastest Growing Revenue Sources

Hospital Charges▲ 40679.0%

$105,000→$42,818,000

Workers Compensation - Interest Earnings▲ 13992.3%

$26,000→$3,664,000

Amusement Tax▲ 10299.9%

$3,082,000→$320,525,000

Declining/Slowest Growing Sources

Rents▼ 98.8%

$77,823,000→$946,000

Workers Compensation - Other Contributions▼ 72.6%

$88,838,000→$24,340,000

Unemployment - Contribution▼ 45.9%

$1,935,282,000→$1,046,199,000

Revenue Forecast

Projected Revenue (Next Year)▲ 3.7%

Estimated: $86,553,388,617

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%

2023 Revenue Breakdown

Individual Income Tax26.3%

Federal Intergovernmental Public Welfare20.3%

Total General Sales Taxes11.2%

Corporation Net Income Tax5.5%

Miscellaneous General Revenue Not Elsewhere Classified3.6%

Federal Intergovernmental Education2.9%

Higher Education Tuition Charges2.5%

Federal Intergovernmental Health & Hospitals2.0%

Net Lottery Revenue2.0%

Federal Intergovernmental Other1.8%

Other In Trust - Other Contributions1.8%

Interest Earnings1.7%

Federal Intergovernmental Housing & Community Development1.5%

Unemployment - Contribution1.3%

Toll Highway Charges1.2%

Death & Gift Tax1.2%

Air Transportation Charges1.2%

Other Selective Sales Taxes1.1%

All Other Not Elsewhere Classified Charges0.9%

Motor Fuels Sales Tax0.8%

Federal Intergovernmental Highways0.8%

Local Intergovernmental Other0.8%

Higher Education Auxiliary Charges0.8%

Insurance Premium Tax0.7%

Sewerage Charges0.6%

Motor Vehicle License0.5%

Occupation & Business License Not Elsewhere Classified0.5%

Documentary & Stock Transfer Tax0.5%

Transit Utilities Revenue0.5%

Tobacco Sales Tax0.4%

Amusement Tax0.4%

Other License Tax0.4%

Water Utilities Revenue0.4%

Donations From Private Sources0.3%

Fines & Forfeits0.2%

Federal Intergovernmental Employment Security Administration0.2%

Water Transportation & Terminal Charges0.2%

Federal Intergovernmental Sewerage0.1%

Alcoholic Beverage Sales Tax0.1%

Motor Vehicle Operators License0.1%

Regular Highway Charges0.1%

Parks & Recreation Charges0.1%

Unemployment - Interest Revenue0.1%

Federal Intergovernmental Other Natural Resources0.1%

Other In Trust - Interest Revenue0.1%

Hospital Charges0.1%

Natural Resources Not Elsewhere Classified Charges0.0%

Federal Intergovernmental Air Transportation0.0%

Electric Utilities Revenue0.0%

Corporation License Tax0.0%

Workers Compensation - Other Contributions0.0%

Property Tax0.0%

Amusement License Tax0.0%

Local Intergovernmental Education0.0%

Housing & Community Development Charges0.0%

Hunting & Fishing License0.0%

Sale of Property0.0%

Alcoholic Beverage License Tax0.0%

Workers Compensation - Interest Earnings0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Elementary Secondary Education School Lunch Charges0.0%

Rents0.0%

Elementary Secondary Education Tuition and Transportation Charges0.0%

Elementary Secondary Education Not Elsewhere Classified Charges0.0%

Key Insights

1Total revenue increased by 73.9% from 2012 to 2023, representing a significant change in the state's financial position.
2Utility revenue growth was exceptional, with water up 58.4% and sewerage up 29.8%, suggesting infrastructure expansion or rate adjustments.
3Population changed by 4.9%, while per-capita revenue changed by 65.8%.
4The state's fund balances decreased by 100%, suggesting financial challenges or major capital expenditures.

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State Expense Analysis (Massachusetts: 2012 - 2023)

Total Expenditure Trends

Operating Expenditures▲ 247%

$17,120,842,000→$59,352,906,000

Per Capita Spending▲ 230%

$2,572→$8,498

Population Trends

Population Change▲ 4.9%

6,655,829 (2012)→6,984,723 (2023)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▼ 5%

$680,739,000 (2012)→$649,633,000 (2023)

Fire Protection▼ 0%

$0 (2012)→$0 (2023)

Infrastructure Expenses

Highways Maintenance▲ 70%

$437,813,000 (2012)→$744,604,000 (2023)

Sewerage Operations▲ 13%

$168,062,000 (2012)→$190,152,000 (2023)

Administrative Expenses

Financial Administration▲ 82%

$571,734,000 (2012)→$1,040,479,000 (2023)

General Expenses▲ 49%

$2,053,203,000 (2012)→$3,052,371,000 (2023)

Massachusetts Key Insights

1Per capita expenditures grew by 230%, indicating substantial service expansion or cost increases not explained by population growth alone
2Financial Administration was the fastest growing major expense category at 82% increase

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State Debt Analysis (2012-2023)

Debt Trends

Total Long-Term Debt▲ 36%

$49,756,960,000 (2012)→$67,517,667,000 (2023)

Industrial Revenue Debt▼ 100%

$20,387,160,000 (2012)→$0 (2023)

Per Capita Debt▲ 29%

$7,476 (2012)→$9,666 (2023)

Population Trends

Population Change▲ 4.9%

6,655,829 (2012)→6,984,723 (2023)

Debt Management

Most Recent Year (2023)

Issued:$8,983,923,000

Retired:$5,858,111,000

Net Change:+$3,125,812,000

Debt Retirement Trend

$3,654,413,000 → $5,858,111,000▲ 60%

🔄 Significant change in retirement strategy detected

Key Insights

1There appears to be a significant shift in debt management strategy between 2012-2023, with a move toward higher debt levels.
2New debt issuance significantly increased the per-resident debt burden (up 29%).