Hi @AnneShaw-3581 ,
It depends on the option selected in the Tag inheritance window. If you chose to use the subscription or resource group tag, then the usage record will have the value of the subscription or resource group tag. If you chose to keep the resource tag, then the usage record will not have a tag value. The inheritance order is determined by the option selected in the Tag inheritance window.
Reference:
Note: This response is partially based on Microsoft Q&A AI Assist and posted after manually validating the accuracy of the response and making necessary changes as appropriate.