New Mexico's property tax revenue up 14.9 percent since previous quarter

New Mexico collected $54 million in property taxes during the 2nd quarter of 2019, a 14.9 percent increase over Q1, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Q1 property tax revenue was $47 million.

Overall, New Mexico collected $2.2 billion in combined tax revenues in Q2.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

2nd Quarter New Mexico Tax Collections
Type of Tax
Amount
Property Taxes
$54,000,000
Sales and Gross Receipts Taxes
$1,015,000,000
Income Taxes
$571,000,000
Source: U.S. Census Bureau

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