New Mexico Taxes

While living in New Mexico, you may be required to pay different types of tax. The three main types (there could be others) are

1. Gross Receipts Tax

2. Property Tax

3. Income Tax

Needless to say, any tax information can vary with time, location, and your financial situation. Therefore, we can only provide some very general pointers.

Gross Receipts Tax in Los Alamos county is currently (March 2007) 6.5625%. In Santa Fe, it is 7.5625%. Gross Receipts Tax is not levied on groceries bought at retail food stores, and for some health care services. For more details, please consult the official bulletin.

Property taxes are levied on real-estate and some other tangible personal property. In Los Alamos, the tax is one of the lowest in the state - about $5.60 for every $1000 of appraised value. For more details, please see the county site that presents the details and a sample calculation.

Income tax is determined by your income, and can have a maximum rate of 5.3% (March, 2007). You can see the tax table by Clicking Here.

For further information, we suggest you consult a tax expert, or contact the appropriate state or county office.