Government budget and revenue in Iowa, United States: official figures
Iowa's state government took in $32.3 billion in fiscal year 2024, $10,005 per resident, 18th highest of 50 states per person (all states: $9,318 per person). The total includes taxes, federal funds, charges and pension-fund investment income.
How much does the Iowa state government spend?
The Iowa state government spent $29.9 billion in fiscal year 2024, or $9,264 per resident, 23rd lowest of 50 states (all states: $9,444). Spending was 22.4% higher than in fiscal year 2019 ($24.4 billion), before adjusting for inflation.
Source: U.S. Census Bureau · saved copyHow much debt does the Iowa state government have?
Iowa state government debt outstanding was $8.1 billion at the end of fiscal year 2024, $2,494 per resident, 20th lowest of 50 states (all states: $3,248). That equals 25% of one year's general revenue; in fiscal year 2019 the debt was $6.2 billion.
Source: U.S. Census Bureau · saved copyHow much federal funding does Iowa get?
The federal government provided $10.4 billion to the Iowa state government in fiscal year 2024, $3,219 per resident and 32.6% of its general revenue, 18th lowest share of 50 states (all states: 34.2%).
Source: U.S. Census Bureau · saved copyWhat are federal funds to Iowa spent on?
Public welfare programmes, mainly Medicaid, accounted for $6.8 billion or 65% of Iowa's federal funds in fiscal year 2024, and education for $1.3 billion (12%).
Source: U.S. Census Bureau · saved copyWhat does the Iowa state government spend its money on?
Direct state spending on public welfare was $3,175 per resident in fiscal year 2024, 21st highest of 50 states (all states: $3,000); higher education took $987 per resident and highways $610.
Source: U.S. Census Bureau · saved copyHow much does Iowa give to local governments and schools?
23.1% of Iowa's state general spending in fiscal year 2024 ($6.9 billion) was paid to other governments, mostly local governments and school districts, 21st lowest share of 50 states (all states: 27.7%).
Source: U.S. Census Bureau · saved copyHow much tax does Iowa collect?
Iowa collected $12.1 billion in state taxes in fiscal year 2025, $3,743 per resident, 19th lowest of 50 states (all states: $4,503). That was 4.9% less than in fiscal year 2024 ($12.7 billion); across all states collections rose 4.3%.
Source: U.S. Census Bureau · saved copyWhat taxes does Iowa rely on?
The individual income tax raised $3.8 billion (31.4% of state taxes, 23rd lowest share of 50 states) in fiscal year 2025. The general sales tax raised $4.7 billion (38.6%, 15th highest share of 50 states). The largest single tax was the general sales and gross receipts tax (38.6%), followed by the individual income tax (31.4%).
Source: U.S. Census Bureau · saved copyDoes Iowa have corporate, property or severance taxes?
In fiscal year 2025, in Iowa, corporate net income tax raised $777.4 million (6.4% of state taxes); state property tax raised $881,000; no severance tax on oil, gas, coal and minerals was collected.
Source: U.S. Census Bureau · saved copyHow much money does the Iowa state government hold in reserves?
The Iowa state government held $51.8 billion in cash and securities at the end of fiscal year 2024, $16,029 per resident, of which $48.1 billion was in insurance trust funds such as public employee pension systems.
Source: U.S. Census Bureau · saved copyHow Iowa compares with other states
State government revenue per person (2024)
Iowa ranks 18 of 50, highest first. All revenue of the state government, including insurance trust income, divided by 1 July population
| Rank | Region | State government revenue per person |
|---|---|---|
| 15 | New Jersey | $10,593 |
| 16 | Kentucky | $10,585 |
| 17 | West Virginia | $10,535 |
| 18 | Iowa | $10,005 |
| 19 | Maine | $9,734 |
| 20 | Kansas | $9,693 |
| 21 | Louisiana | $9,667 |
State government spending per person (2024)
Iowa ranks 28 of 50, highest first. Total expenditure of the state government divided by 1 July population
| Rank | Region | State government spending per person |
|---|---|---|
| 25 | Utah | $9,334 |
| 26 | Mississippi | $9,323 |
| 27 | Virginia | $9,302 |
| 28 | Iowa | $9,264 |
| 29 | Connecticut | $9,228 |
| 30 | Wisconsin | $9,034 |
| 31 | South Carolina | $8,949 |
State government debt per person (2024)
Iowa ranks 31 of 50, highest first. Debt outstanding at the end of the fiscal year divided by 1 July population
| Rank | Region | State government debt per person |
|---|---|---|
| 28 | Ohio | $2,722 |
| 29 | Mississippi | $2,618 |
| 30 | Arkansas | $2,601 |
| 31 | Iowa | $2,494 |
| 32 | Oklahoma | $2,477 |
| 33 | Michigan | $2,477 |
| 34 | Montana | $2,423 |
Federal funds received by the state government per person (2024)
Iowa ranks 29 of 50, highest first. Intergovernmental revenue from the federal government
| Rank | Region | Federal funds received by the state government per person |
|---|---|---|
| 26 | Alabama | $3,282 |
| 27 | Maryland | $3,263 |
| 28 | Ohio | $3,236 |
| 29 | Iowa | $3,219 |
| 30 | Missouri | $3,188 |
| 31 | Connecticut | $3,157 |
| 32 | New Jersey | $3,125 |
Federal funds as a share of state general revenue (2024)
Iowa ranks 33 of 50, highest first.
| Rank | Region | Federal funds as a share of state general revenue |
|---|---|---|
| 30 | Vermont | 33.8% |
| 31 | Texas | 32.9% |
| 32 | South Carolina | 32.8% |
| 33 | Iowa | 32.6% |
| 34 | Nevada | 31.9% |
| 35 | Minnesota | 31.0% |
| 36 | New Mexico | 30.9% |
State tax collections per person (2025)
Iowa ranks 32 of 50, highest first.
| Rank | Region | State tax collections per person |
|---|---|---|
| 29 | West Virginia | $3,936 |
| 30 | Indiana | $3,932 |
| 31 | Kentucky | $3,763 |
| 32 | Iowa | $3,743 |
| 33 | Mississippi | $3,707 |
| 34 | North Carolina | $3,628 |
| 35 | Nebraska | $3,614 |
Individual income tax as a share of state taxes (2025)
Iowa ranks 28 of 50, highest first.
| Rank | Region | Individual income tax as a share of state taxes |
|---|---|---|
| 25 | Alabama | 32.8% |
| 26 | Indiana | 31.7% |
| 27 | Pennsylvania | 31.6% |
| 28 | Iowa | 31.4% |
| 29 | West Virginia | 31.0% |
| 30 | Michigan | 30.7% |
| 31 | Nebraska | 29.9% |
General sales tax as a share of state taxes (2025)
Iowa ranks 15 of 50, highest first.
| Rank | Region | General sales tax as a share of state taxes |
|---|---|---|
| 12 | Indiana | 40.9% |
| 13 | Arkansas | 40.9% |
| 14 | Wyoming | 38.7% |
| 15 | Iowa | 38.6% |
| 16 | Idaho | 36.1% |
| 17 | South Carolina | 35.2% |
| 18 | Maine | 34.3% |
State spending on public welfare per person (2024)
Iowa ranks 21 of 50, highest first. Direct general expenditure on public welfare, mainly Medicaid
| Rank | Region | State spending on public welfare per person |
|---|---|---|
| 18 | Ohio | $3,354 |
| 19 | Indiana | $3,312 |
| 20 | Illinois | $3,246 |
| 21 | Iowa | $3,175 |
| 22 | Pennsylvania | $3,019 |
| 23 | New Jersey | $2,953 |
| 24 | Hawaii | $2,912 |
More on Iowa: overview · economy and jobs · health · education and schools · poverty and living standards · the United States
Sources
- U.S. Census Bureau: Annual Survey of State Government Finances: State Government Finances, U.S. and States, 2012-2024 (table GS00STATEFIN01, amounts in thousands of dollars), read 23 October 2026 · saved copy (SHA-256 72ff59b48414…)
- U.S. Census Bureau: Annual Survey of State Government Tax Collections: historical database, fiscal years to 2025 (thousands of dollars), read 23 October 2026 · saved copy (SHA-256 bdf560cd3d8f…)
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