New Mexico collected $5 million in property taxes during the fourth quarter of 2024, a 66.7% increase over the third quarter of 2024, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.
Property tax revenue for the third quarter of 2024 was $3 million.
Overall, New Mexico collected approximately $3.3 billion in combined tax revenues in the fourth quarter of 2024, which is nearly identical to the amount collected in the previous quarter.
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.
| Type of Tax | Amount (millions) |
|---|---|
| Property Taxes | $5 |
| Sales and Gross Receipts Taxes | $1,243 |
| Income Taxes | $760 |
| License Taxes | $99 |
| Other Taxes | $1,175 |
Source: U.S. Census Bureau
