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New Mexico Property Taxes Facts

People from all kinds of backgrounds have come to live in New Mexico, the Land of Enchantment, for many reasons. These range from the allure of the wide open spaces, the haunting history preserved here, and the state’s balance of modern amenities and traditions. The mild climate is a big draw for retirees, as winter lows hover between 40 and 60 degrees Fahrenheit, while summer temperatures reach into the 90s. The schools in New Mexico rank well when compared to the rest of the country. These are all good reasons to move to this Southwest state, but maybe one of the most compelling is the low amount of New Mexico property taxes.

Facts About Property Taxes in New Mexico

1. New Mexico ranks #48 in the nation when it comes to the amount of property taxes paid per resident, according to the Tax Foundation records of 2010. The amount of taxes that residents of New Mexico pay are less than ¼ of the taxes paid by citizens of New Jersey (the state with the highest taxes).
2. The cost of living in New Mexico is almost 10% lower than the US average.
3. Although property taxes are low, New Mexico still maintains a network of highways making it easy to navigate the state.
4. Each city and metro area in the state provides recycling services in addition to trash pickup.
5. A large portion of the state’s revenue to local governments and schools comes from the property taxes.
6. Property in New Mexico tends to be priced lower than in other states. The average home price is in the low $200,000s. Home values may be higher or lower depending upon local differences.

The Appeal of Owning Property

When it comes to making the decision to live in New Mexico, the reasons can be almost as varied as the people themselves. For many new residents, however, the wide open availability of land and affordable New Mexico property taxes are sure to be a draw. Call 877-468-9802 today to learn more about New Mexico property taxes from The Brooks Companies.