Massachusetts Fiscal Statistics

StatisNostics/State Financials/Massachusetts

Generating Chart...

Filter Data by Year

20122024

Generating Chart...

State Revenue Analysis (Massachusetts: 2012–2024)

Population: 6,655,829 → 6,981,974 (4.9% change)

Overall Revenue Trends

Total Revenue▲ 78.5%

$47,979,026,000 (2012)→$85,645,474,000 (2024)

Per Capita Revenue▲ 70.2%

$7,209 (2012)→$12,267 (2024)

Fund Balances▼ 100%

$39,143,316,000 (2012)→$0 (2024)

Revenue Volatility✓ Low

Avg. fluctuation: 5.9%

Major Tax Revenue

Property Tax▲ 247.1%

$4,441,000 (2012)→$15,416,000 (2024)

Sales Tax▲ 85%

$5,079,105,000 (2012)→$9,396,274,000 (2024)

Utility Revenue

Water Utilities▲ 62.1%

$193,001,000 (2012)→$312,886,000 (2024)

Sewerage Charges▲ 31.6%

$410,552,000 (2012)→$540,401,000 (2024)

Growth Analysis

Fastest Growing Revenue Sources

Hospital Charges▲ 46256.2%

$105,000→$48,674,000

Amusement Tax▲ 10382.5%

$3,082,000→$323,071,000

Amusement License Tax▲ 3299.5%

$436,000→$14,822,000

Declining/Slowest Growing Sources

Rents▼ 98.0%

$77,823,000→$1,586,000

Public Utilities Tax▼ 82.7%

$23,925,000→$4,150,000

Sale of Property▼ 50.5%

$5,193,000→$2,572,000

Revenue Forecast

Projected Revenue (Next Year)▼ 0.3%

Estimated: $85,386,998,099

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%

2024 Revenue Breakdown

Individual Income Tax25.8%

Federal Intergovernmental Public Welfare18.0%

Total General Sales Taxes11.0%

Corporation Net Income Tax7.3%

Miscellaneous General Revenue Not Elsewhere Classified3.6%

Federal Intergovernmental Education3.1%

Interest Earnings2.7%

Higher Education Tuition Charges2.4%

Federal Intergovernmental Other2.4%

Other In Trust - Other Contributions2.0%

Federal Intergovernmental Health & Hospitals1.9%

Net Lottery Revenue1.9%

Federal Intergovernmental Housing & Community Development1.7%

Unemployment - Contribution1.4%

Air Transportation Charges1.3%

All Other Not Elsewhere Classified Charges0.9%

Federal Intergovernmental Highways0.9%

Motor Fuels Sales Tax0.8%

Insurance Premium Tax0.8%

Local Intergovernmental Other0.8%

Higher Education Auxiliary Charges0.7%

Toll Highway Charges0.7%

Other Selective Sales Taxes0.7%

Death & Gift Tax0.7%

Sewerage Charges0.6%

Occupation & Business License Not Elsewhere Classified0.5%

Motor Vehicle License0.5%

Transit Utilities Revenue0.5%

Documentary & Stock Transfer Tax0.4%

Tobacco Sales Tax0.4%

Amusement Tax0.4%

Other License Tax0.4%

Water Utilities Revenue0.4%

Fines & Forfeits0.3%

Donations From Private Sources0.3%

Water Transportation & Terminal Charges0.2%

Federal Intergovernmental Employment Security Administration0.2%

Motor Vehicle Operators License0.1%

Federal Intergovernmental Sewerage0.1%

Alcoholic Beverage Sales Tax0.1%

Federal Intergovernmental Air Transportation0.1%

Regular Highway Charges0.1%

Workers Compensation - Other Contributions0.1%

Unemployment - Interest Revenue0.1%

Parks & Recreation Charges0.1%

Other In Trust - Interest Revenue0.1%

Federal Intergovernmental Other Natural Resources0.1%

Hospital Charges0.1%

Natural Resources Not Elsewhere Classified Charges0.0%

Corporation License Tax0.0%

Electric Utilities Revenue0.0%

Property Tax0.0%

Amusement License Tax0.0%

Local Intergovernmental Education0.0%

Housing & Community Development Charges0.0%

Hunting & Fishing License0.0%

Alcoholic Beverage License Tax0.0%

Public Utilities Tax0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Sale of Property0.0%

Rents0.0%

Elementary Secondary Education School Lunch Charges0.0%

Workers Compensation - Interest Earnings0.0%

Elementary Secondary Education Not Elsewhere Classified Charges0.0%

Elementary Secondary Education Tuition and Transportation Charges0.0%

Key Insights

1Total revenue increased by 78.5% from 2012 to 2024, representing a significant change in the state's financial position.
2Utility revenue growth was exceptional, with water up 62.1% and sewerage up 31.6%, suggesting infrastructure expansion or rate adjustments.
3Population changed by 4.9%, while per-capita revenue changed by 70.2%.
4The state's fund balances decreased by 100%, suggesting financial challenges or major capital expenditures.

Generating Chart...

State Expense Analysis (Massachusetts: 2012 - 2024)

Total Expenditure Trends

Operating Expenditures▲ 260%

$17,120,842,000→$61,560,428,000

Per Capita Spending▲ 243%

$2,572→$8,817

Population Trends

Population Change▲ 4.9%

6,655,829 (2012)→6,981,974 (2024)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▼ 2%

$680,739,000 (2012)→$667,442,000 (2024)

Fire Protection▼ 0%

$0 (2012)→$0 (2024)

Infrastructure Expenses

Highways Maintenance▲ 60%

$437,813,000 (2012)→$702,328,000 (2024)

Sewerage Operations▲ 28%

$168,062,000 (2012)→$214,337,000 (2024)

Administrative Expenses

Financial Administration▲ 114%

$571,734,000 (2012)→$1,221,721,000 (2024)

General Expenses▲ 98%

$2,053,203,000 (2012)→$4,059,169,000 (2024)

Massachusetts Key Insights

1Per capita expenditures grew by 243%, indicating substantial service expansion or cost increases not explained by population growth alone
2Financial Administration was the fastest growing major expense category at 114% increase

Generating Chart...

State Debt Analysis (2012-2024)

Debt Trends

Total Long-Term Debt▲ 30%

$49,756,960,000 (2012)→$64,881,832,000 (2024)

Industrial Revenue Debt▼ 100%

$20,387,160,000 (2012)→$0 (2024)

Per Capita Debt▲ 24%

$7,476 (2012)→$9,293 (2024)

Population Trends

Population Change▲ 4.9%

6,655,829 (2012)→6,981,974 (2024)

Debt Management

Most Recent Year (2024)

Issued:$9,905,846,000

Retired:$8,415,920,000

Net Change:+$1,489,926,000

Debt Retirement Trend

$3,654,413,000 → $8,415,920,000▲ 130%

🔄 Significant change in retirement strategy detected

Key Insights

1There appears to be a significant shift in debt management strategy between 2012-2024, with a move toward higher debt levels.