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Im moving from a bad move to Texas. Prop taxes here are around 2.5 percent of the value of the house. a 200k house runs around 5000 a year. You never want it to appreciate. Please can someone tell me about the prop taxes, income taxes and sales tax of NM. Im not that web savy, I thank you for your help.
If it helps, a friend of mine in ABQ bought her house for $140,000 about 18 months ago, her last round of property taxes was around $1,200. However, she also paid about $1400 in state income taxes, so her total tax bill was approx $2,600. Interestingly, her property+income taxes were about what the property tax would have been on a $140k property here in Florida (we have no income tax), so the overall tax rates are about the same between FL & NM.
When you calculate your property tax, be sure to also figure your estimated NM income tax on your anticipated NM income, since there's no state income tax in TX. Otherwise you won't have an accurate comparison.
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