State Tax Collections: T01 Property Taxes for New Mexico
QTAXT01QTAXCAT3NMNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
57.00
Year-over-Year Change
11.76%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures property tax collections in the state of New Mexico. It is an important indicator of state and local government revenue and economic activity.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The State Tax Collections: T01 Property Taxes for New Mexico series tracks the quarterly total of property tax collections in the state. This data provides insight into the fiscal health and tax burden of the state and its local governments.
Methodology
The data is collected and reported by the U.S. Census Bureau through quarterly surveys of state and local government finances.
Historical Context
Property tax collections are a key revenue source for state and local governments, and this trend is closely monitored by policymakers and analysts.
Key Facts
- New Mexico collected $1.3 billion in property taxes in 2021.
- Property taxes account for 30% of New Mexico's state and local tax revenue.
- The state's property tax rate is 1.2% of assessed home value on average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the quarterly total of property tax collections in the state of New Mexico.
Q: Why is this trend relevant for users or analysts?
A: Property tax collections are a key indicator of state and local government revenue and economic activity, making this trend important for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau through quarterly surveys of state and local government finances.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor property tax collections to understand the fiscal health and tax burden of state and local governments.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly basis with a slight delay, but it provides a comprehensive and reliable measure of property tax collections in New Mexico.
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Citation
U.S. Federal Reserve, State Tax Collections: T01 Property Taxes for New Mexico (QTAXT01QTAXCAT3NMNO), retrieved from FRED.