New Mexico has a top income tax rate of 5.9%, the 17th highest combined sales tax (7.68%) and a $12.00 minimum wage as of 2026.
$7,907 a year: that is roughly what a New Mexico homeowner earning $75,000 pays in state income tax ($2,359), sales tax on $25,000 of purchases ($1,920), property tax on a $300,000 house ($1,890) and electricity at 900 kWh a month ($1,738).
New Mexico uses a graduated scale with 6 rates, topping out at 5.9%. Single filers' standard deduction: $16,100. On $50,000 of wages, a single filer's New Mexico tax works out to about $1,184 (2.4% of wages); on $100,000 it is about $3,569 (3.6%). Source: Tax Foundation, January 1, 2026.
| Rate | Single filers | Married filing jointly |
|---|---|---|
| 1.5% | over $0 | over $0 |
| 3.2% | over $5,500 | over $8,000 |
| 4.3% | over $16,500 | over $25,000 |
| 4.7% | over $33,500 | over $50,000 |
| 4.9% | over $66,500 | over $100,000 |
| 5.9% | over $210,000 | over $315,000 |
Estimated 2026 take-home pay for a single filer with no pre-tax deductions, using the federal brackets and $16,100 standard deduction, Social Security and Medicare, and New Mexico's brackets above. Open the paycheck calculator set to New Mexico to add a 401(k), change pay frequency or filing status.
| Salary | Federal tax | FICA | State tax | Take-home (year) | Per biweekly check |
|---|---|---|---|---|---|
| $50,000 | $3,820 | $3,825 | $1,184 | $41,171 | $1,583 |
| $75,000 | $7,670 | $5,738 | $2,359 | $59,233 | $2,278 |
| $100,000 | $13,170 | $7,650 | $3,569 | $75,611 | $2,908 |
The state rate is 4.88% and local governments add 2.80% on average, for a combined 7.68%, 17th highest of the 50 states and D.C. (median 7.00%). A $1,000 purchase carries about $77 in sales tax at the average combined rate. Source: Tax Foundation, July 1, 2026.
The New Mexico minimum wage is $12.00 an hour, 24th highest in the country, or $24,960 a year for full-time work, $9,880 more than the federal $7.25. Source: U.S. Department of Labor, July 1, 2026.
Homeowners in New Mexico paid property taxes equal to 0.63% of home value on average, the 18th lowest effective rate (median state 0.79%). On a $300,000 home that is about $1,890 a year, or $158 a month in escrow. Source: Tax Foundation (Census ACS data), 2024 data.
Residential electricity averaged 16.09¢ per kWh in July 2026, the 26th highest of the 50 states and D.C. (median 16.09¢). A household using 900 kWh a month would pay about $145 before fixed charges. Source: U.S. EIA, July 2026 data.
Among the 5 states it borders, New Mexico has the highest top income tax rate of its neighbors (5.9%).
| State | Top income tax | Sales tax | Min. wage | Property tax | Electricity |
|---|---|---|---|---|---|
| New Mexico | 5.9% | 7.68% | $12.00 | 0.63% | 16.09¢ |
| Arizona | 2.5% | 8.54% | $15.15 | 0.48% | 15.38¢ |
| Colorado | 4.4% | 7.89% | $15.16 | 0.50% | 17.00¢ |
| Oklahoma | 4.5% | 9.06% | $7.25 | 0.79% | 14.35¢ |
| Texas | None | 8.20% | $7.25 | 1.40% | 15.88¢ |
| Utah | 4.5% | 7.42% | $7.25 | 0.48% | 13.12¢ |
New Mexico figures use statewide averages and skip credits, exemptions and local income taxes; check New Mexico revenue and labor department sites before filing or hiring.
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