State of New Mexico
$33.5 billion budget in the latest fiscal year on record, which ended June 30, 2024.
Where the money comes from
Full New Mexico breakdown
What stands out
21%
of New Mexico's money comes from interest, rents and other revenue.A typical state government gets 7.3%.
State taxes35%
Other taxes
17%$6.98 billion
What's in other taxesSeverance taxes; insurance premium taxes and 17 more
- Severance taxes$4.71 billion
- Insurance premium taxes$684 million
- Motor fuel taxes$319 million
- Other selective sales taxes$293 million
- Other taxes not classified elsewhere$242 million
- Motor vehicle licenses$185 million
- Other licenses$109 million
- Public utility taxes$104 million
- Tobacco taxes$78.6 million
- Amusement taxes$67.8 million
- Occupation and business licenses$51.3 million
- Alcoholic beverage taxes$48.5 million
- Estate and gift taxes$35.5 million
- Hunting and fishing licenses$30.0 million
- Driver's licenses$13.8 million
- Corporation licenses$5.1 million
- Alcoholic beverage licenses$4.0 million
- Public utility licenses$1.6 million
- Amusement licenses$556 thousand
Amounts are by Census tax category.
Sales tax
11%$4.33 billion
Individual income tax
5.4%$2.17 billion
Business income tax
1.5%$610 million
Property tax
0.3%$126 million
Fees for services11%
Fees for services
11%$4.36 billion
What's in fees for servicesHospital bills; college tuition and 8 more
- Hospital bills$3.52 billion
- College tuition$480 million
- Other service charges$235 million
- University housing and dining$70.6 million
- Parks, land and natural resources$18.0 million
- Housing$17.3 million
- Road charges$12.8 million
- Other education charges$9.4 million
- Parks and recreation$1.3 million
- Garbage collection$1.0 million
Amounts are by Census type of charge.
Federal tax money31%
Grants from Washington, paid for by the federal taxes residents also pay.
From the federal government
31%$12.4 billion
Local tax money1.5%
Money passed on by the county or other local governments.
From local governments
1.5%$590 million
Fines and other21%
Interest, rents and other
21%$8.53 billion
Fines
0.2%$69.7 million
Where the money goes
What stands out
13%
of New Mexico's spending goes to health services and hospitals.A typical state government spends 5.7%.
Full New Mexico breakdown
Spending by category100%
Social services
32%$10.7 billion
What's in social servicesOther public welfare; unemployment and social insurance offices and 1 more
- Other public welfare$10.7 billion
- Unemployment and social insurance offices$16.3 million
- Veterans' services$8.5 million
Sent to local governments
26%$8.69 billion
What's in sent to local governmentsSent to school districts; sent to local governments: general support and 18 more
- Sent to school districts$5.41 billion
- Sent to local governments: general support$2.40 billion
- Sent to local governments: other and not broken out$328 million
- Sent to local governments: roads and highways$192 million
- Sent to school districts (colleges)$118 million
- Sent to local governments: public health$59.6 million
- Sent to local governments: other government administration$56.5 million
- Sent to local governments: natural resources, farming and conservation$50.6 million
- Sent to local governments: police$47.8 million
- Sent to local governments: housing and community development$7.5 million
- Sent to local governments: courts and legal services$5.0 million
- Sent to local governments: prisons and jails$5.0 million
- Sent to local governments: airports$4.2 million
- Sent to local governments: parks and recreation$3.5 million
- Sent to local governments: inspections and regulation$1.5 million
- Sent to local governments: other public welfare$982 thousand
- Sent to local governments: garbage and solid waste$671 thousand
- Sent to local governments: libraries$74 thousand
- Sent to local governments: central staff services (personnel, purchasing, technology)$32 thousand
- Sent to local governments: colleges and universities$23 thousand
Health and hospitals
13%$4.26 billion
What's in health and hospitalsHospitals and public health
- Hospitals$3.71 billion
- Public health$543 million
Schools and colleges
11%$3.59 billion
What's in schools and collegesColleges and universities; scholarships and other education subsidies and 2 more
- Colleges and universities$2.42 billion
- Scholarships and other education subsidies$674 million
- Other education$337 million
- College housing, dining and bookstores$151 million
Running the government and other costs
8.0%$2.68 billion
What's in running the government and other costsOther and not broken out; finance, tax collection and budgeting and 3 more
- Other and not broken out$1.51 billion
- Finance, tax collection and budgeting$972 million
- Other government administration$106 million
- Central staff services (personnel, purchasing, technology)$68.5 million
- Government buildings$24.6 million
Police, fire, courts and jails
4.5%$1.52 billion
What's in police, fire, courts and jailsCourts and legal services; prisons and jails and 3 more
- Courts and legal services$516 million
- Prisons and jails$424 million
- Police$221 million
- Probation, parole and other corrections$187 million
- Inspections and regulation$168 million
Roads, transit and parking
3.6%$1.20 billion
What's in roads, transit and parkingRoads and highways; public transit and 1 more
- Roads and highways$1.19 billion
- Public transit$2.6 million
- Airports$1.1 million
Environment and natural resources
1.0%$342 million
What's in environment and natural resourcesNatural resources, farming and conservation
- Natural resources, farming and conservation$342 million
Interest on debt
0.9%$290 million
Housing and community development
0.4%$131 million
Parks, recreation and libraries
0.3%$110 million
What's in parks, recreation and librariesParks and recreation and libraries
- Parks and recreation$110 million
- Libraries$84 thousand
Water, sewer, trash and utilities
<0.1%$21 thousand
What's in water, sewer, trash and utilitiesGarbage and solid waste
- Garbage and solid waste$21 thousand