New Mexico General Tax Info, by Santa Fe Buyer's Consultant Vince Pulli, Re/MaxOne

GENERAL TAX INFORMATION

See the following links for other tax information:

City of Santa Fe
County of Santa Fe
New Mexico has a Graduated State Income Tax.
The Grocery and Food tax will be removed over the next two years. (2003 - 2004)
Santa Fe County Government Information 986-6200 OR 1-800-894-7028

REAL PROPERTY

Pproperty is assessed at the rate of 33 1/3% of value a $100,000 property would be $1,169
MILL LEVY: CITY OF ALBUQUERQUE 38.228 TO 43.218
OTHER TOWNS IN
BERNALILLO COUNTY 25.502 TO 26.502
RIO RANCHO 22.994
SANDOVAL COUNTY 13.980
OUTSIDE OF RIO RANCHO
BELEN 32.125
LOS LUNAS 23.341

SAMPLE CALCULATION:
ASSESSED VALUE (HOUSE AND LAND) $100,000
ASSESMENT RATIO .33
TAXABLE VALUE $33,000
TAX RATE X .032228
ANNUAL TAX DUE $1,065

Taxes due 12-10 and 4-10 paid in the rears 50% each period
PERSONAL STATE INCOME TAX
1. Graduated
2. Married, Filing Jointly 2.4% TO 8.5%
3. New Mexico base income equals New Mexico taxable amount
4. Adjusted gross income minus deductions equals NM taxable amount
5. EXAMPLE: Federal taxable income of $34,000
(Married filing jointly) = $1,473 NM TAX

EXCISE TAX
VEHICLES 3%
GROSS RECEIPTS TAX
EFFECTIVE JAN 2002
ALBUQUERQUE 5.8125%
BERNALILLO COUNTY 5.375%
BELEN 6.5000%
BOSQUE FARMS 6.375
CORRALES 6.125%
EDEGWOOD 5.75%
LOS LUNAS 6.375%
PLACITAS 5.750%
RIO RANCHO 6.1875%
SANTA FE 6.3125%
TAOS 6.875%
TIJERAS 5.75%

STATE GROSS RECEIPTS IS 5.00%
OUT OF STATE BUSINES 5%
Gross Receipts in Feb. down -6.2% from last year Agriculture 16.63 million Construction 495.63 million Finance/RE/insr. 114.21 million Government 18.05 million Manufacturing 263.57 million Mining 92.10 million Retail sales 1.4 billion Service 1.33 bill Xportation 333.36 mill Wholesale 905.52 bill

PLEASE TAKE NOTE: The above information has been obtained from various sources believed to be reliable and is only general in natural. While I do not doubt its accuracy, I have not verified this information and make no guarantee, warranty or representation about the information.

I serve only the Buyer, but my fee is paid by the Seller. So, when you're looking to purchase Real Estate in the Santa Fe area, contact me.

Vince Pulli, Realtor®
Licensed Real Estate Consultant

Casa Tierra Realty
130 Siringo Road, Suite 202
Santa Fe, NM 87505
Mobile No. – 505-780-0720
Main Office – 505-988-9791
Office Fax – 505-820-2744
Email:vince@gvpulli.net

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Whether your looking for a condo,townhouse,single,single family home,duplex,tri-plex,land,ranch,horses,property,horse property,investment property,mountain,or mountain retreat, Vince Pulli, Buyer's Agent at ReMax One is the one to call or email at vince@gvpulli.net .