State Tax Collections: Total Taxes for New Mexico
This dataset tracks state tax collections: total taxes for new mexico over time.
Latest Value
3761.00
Year-over-Year Change
20.66%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend tracks total tax collections by the state government of New Mexico. It serves as an important indicator of the state's fiscal health and revenue-generating capacity.
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: Total Taxes for New Mexico' series measures the aggregate tax revenue collected by the New Mexico state government. This metric provides insight into the state's economic and budgetary conditions, which is crucial information for policymakers, investors, and economic analysts.
Methodology
The data is collected and reported by the U.S. Census Bureau.
Historical Context
This trend is closely monitored by state officials, legislators, and budget analysts to assess New Mexico's fiscal policies and budgetary planning.
Key Facts
- New Mexico's total tax collections exceeded $8 billion in 2021.
- Tax revenue accounts for over 50% of New Mexico's state government funding.
- The state's tax collections have grown by an average of 4% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the government of the state of New Mexico, including individual income taxes, sales taxes, corporate taxes, and other state-level tax sources.
Q: Why is this trend relevant for users or analysts?
A: The state's tax collections are a crucial indicator of its fiscal health and capacity to fund public services, making this trend highly relevant for policymakers, investors, and economic analysts focused on New Mexico.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau as part of its comprehensive state government finance statistics.
Q: How is this trend used in economic policy?
A: State tax collections data is closely monitored by New Mexico's government officials, legislators, and budget analysts to assess the state's fiscal policies, revenue sources, and budgetary planning.
Q: Are there update delays or limitations?
A: The data is published quarterly by the Census Bureau, with a lag of several months, so there may be a delay in accessing the most recent figures.
Related News
U.S. Job Growth Slowdown Affects Unemployment Rate
The Impact of Weak Job Growth on the US Unemployment Rate The unemployment rate has always been a vital gauge to understand the United States' economic health. Recent times have brought this indicator into sharper focus, especially as weak job growth continues to challenge the nation’s economy. The pressures of a sluggish labor market may lead to more significant economic consequences, impacting not just the workforce but the broader fiscal landscape. Weak job growth, leading to an increased un
Falling Mortgage Rates: Expert Advice for U.S. Homebuyers and Sellers
Expert Tips for Homebuyers and Sellers as Mortgage Rates Drop Mortgage rates are making headlines as they continue to decline, promising significant impacts on both homebuyers and sellers. These shifts in the real estate landscape invite a closer look at how adjustments in economic indicators, such as the federal funds rate and the 10-year treasury yield chart, are playing a part in this development. The U.S. housing market is reacting in intriguing ways, offering potential advantages for those
Unpredictability of Interest Rate Direction in the United States
Navigating the Unpredictability of Interest Rates Interest rates have turned into one of the most unpredictable elements in the American financial landscape. This unpredictability stems largely from the nuanced decisions of the Federal Reserve, often referred to as the Fed, whose policies ripple through financial markets, influencing borrowing costs for everyone from ambitious entrepreneurs to families securing mortgages. The web of economic indicators, which serves as the backbone for interest
Impact of U.S. Treasury Yields Rise After Fed Rate Cut
The Impact of a Treasury Yield Rise on the U.S. Economy After a Fed Rate Cut The current rise in the 10-year Treasury bond rate has caught the attention of economists, investors, and policymakers alike. Treasury yields, particularly the 10-year Treasury bond rate, act as a key indicator of the economic outlook in the United States. They affect interest rates, the bond market, and expectations for inflation. Understanding their fluctuations can offer insight into financial markets and help guide
U.S. Jobless Claims Spike, Followed By Decline, Layoffs Remain Low
U.S. Jobless Claims Spike and Decline: Insights into Labor Market Trends U.S. jobless claims recently spiked, only to decline soon after, highlighting interesting patterns in the labor market. At the heart of these shifts lies a tale of layoffs and employment dynamics that paint a picture of the U.S. economy's current state. These fluctuations in jobless claims explain broader economic metrics like the unemployment rate and employment rate. This overview offers a window into the complex interpl
Federal Reserve reduces U.S. interest rates, plans further cuts in 2025
Federal Reserve's Strategic Interest Rate Cut in Focus The Federal Reserve's strategic interest rate cut is a significant move in today's economic climate. As the central banking system of the United States, the Federal Reserve plays a crucial role in setting monetary policy to influence the nation's economy. An interest rate cut defines the decision to lower the cost of borrowing, typically aimed at stimulating economic growth. This latest decision could have considerable effects on the U.S. e
Related Trends
Consumer Price Index for All Urban Consumers: All Items in U.S. City Average
CPIAUCNS
Capacity Utilization: Total Index
TCU
Commercial and Industrial Loans, All Commercial Banks
TOTCI
Share of Foreign Born in Home Owners Loan Corporation (HOLC) Neighborhood A
RLMSHFBHOLCNA
Home Ownership Rate in Home Owners Loan Corporation (HOLC) Neighborhood C
RLMSHHORHOLCNC
Share of Foreign Born in Home Owners Loan Corporation (HOLC) Neighborhood C
RLMSHFBHOLCNC
Citation
U.S. Federal Reserve, State Tax Collections: Total Taxes for New Mexico (QTAXTOTALQTAXCAT3NMNO), retrieved from FRED.