Connecticut vs New Mexico Taxes: Income, Property & Sales

Does Connecticut or New Mexico have lower taxes? We answer that in a variety of ways below:

Connecticut vs New Mexico Income Tax Comparison

	Connecticut	New Mexico
Income Tax Rates & Thresholds	3.00%: $0-$10,000 5.00%: $10,000-$50,000 5.50%: $50,001-$100,000 6.00%: $100,001-$200,000 6.50%: $200,001-$250,000 6.90%: $250,001-$500,000 6.99%: $500,001+	1.70%: $0-$5,500 3.20%: $5,501-$11,000 4.70%: $11,001-$16,000 4.90%: $16,001-$210,000 5.90%: $210,001+
Median Income	$90,730	$56,420
Income Tax Paid On Median Household Income	$16,444	$7,031
Income After Tax Based on Median Household Income	$74,286	$49,389

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Connecticut vs New Mexico Property Tax Comparison

	Connecticut	New Mexico
Average Property Tax Rate	1.57%	0.60%
Average House Price By State	$401,285	$293,766
Average Property Tax Owed Per Year	$6,300	$1,763
Income After Income Taxes & Property Taxes Based On Median State Household Income	$67,986	$47,626

Connecticut vs New Mexico Sales Tax Comparison

	Connecticut	New Mexico
Average State Sales Tax	6.35%	5.13%
Average Local Sales Tax Across the State	0.00%	2.71%
Average Combined Sales Tax Rate	6.35%	7.84%
Maximum Amount of Sales Tax Paid Based on Median Household Income	$4,059	$3,462
Maximum Disposable Income Based on Median Household Income	$63,926	$44,164

After Tax Comparison Earning $40,000 Per Year Filing As Single

	Connecticut	New Mexico
Income Tax Owed	$4,090	$4,086
After Tax Income	$35,910	$35,914
Income After Income & Property Tax	$29,610	$34,151
Maximum Disposable Income After Income, Property & Sales Taxes	$27,842	$31,669

After Tax Comparison Earning $60,000 Per Year Filing As Single

	Connecticut	New Mexico
Income Tax Owed	$8,018	$7,994
After Tax Income	$51,982	$52,006
Income After Income & Property Tax	$45,682	$50,243
Maximum Disposable Income After Income, Property & Sales Taxes	$42,954	$46,591

After Tax Comparison Earning $80,000 Per Year Filing As Single

	Connecticut	New Mexico
Income Tax Owed	$13,493	$13,374
After Tax Income	$66,507	$66,626
Income After Income & Property Tax	$60,207	$64,863
Maximum Disposable Income After Income, Property & Sales Taxes	$56,612	$60,148

After Tax Comparison Earning $100,000 Per Year Filing As Single

	Connecticut	New Mexico
Income Tax Owed	$18,993	$18,754
After Tax Income	$81,007	$81,246
Income After Income & Property Tax	$74,707	$79,483
Maximum Disposable Income After Income, Property & Sales Taxes	$70,246	$73,705

After Tax Comparison Earning $100,000 Per Year Filing As Married Filing Jointly

	Connecticut	New Mexico
Income Tax Owed	$11,881	$11,704
After Tax Income	$88,119	$88,296
Income After Income & Property Tax	$81,819	$86,533
Maximum Disposable Income After Income, Property & Sales Taxes	$76,934	$80,242

After Tax Comparison Earning $150,000 Per Year Filing As Married Filing Jointly

	Connecticut	New Mexico
Income Tax Owed	$24,566	$24,209
After Tax Income	$125,434	$125,791
Income After Income & Property Tax	$119,134	$124,028
Maximum Disposable Income After Income, Property & Sales Taxes	$112,021	$115,012

After Tax Comparison Earning $200,000 Per Year Filing As Married Filing Jointly

	Connecticut	New Mexico
Income Tax Owed	$38,316	$37,659
After Tax Income	$161,684	$162,341
Income After Income & Property Tax	$155,384	$160,578
Maximum Disposable Income After Income, Property & Sales Taxes	$146,106	$148,904

After Tax Comparison Earning $250,000 Per Year Filing As Married Filing Jointly

	Connecticut	New Mexico
Income Tax Owed	$53,115	$52,028
After Tax Income	$196,885	$197,972
Income After Income & Property Tax	$190,585	$196,209
Maximum Disposable Income After Income, Property & Sales Taxes	$179,205	$181,945

FAQ

Does Connecticut or New Mexico have lower income taxes?

Connecticut’s income tax falls into the following range:

• 3.00%: $0-$10,000
• 5.00%: $10,000-$50,000
• 5.50%: $50,001-$100,000
• 6.00%: $100,001-$200,000
• 6.50%: $200,001-$250,000
• 6.90%: $250,001-$500,000
• 6.99%: $500,001+

Whereas New Mexico’s income tax is the following

• 1.70%: $0-$5,500
• 3.20%: $5,501-$11,000
• 4.70%: $11,001-$16,000
• 4.90%: $16,001-$210,000
• 5.90%: $210,001+

Does Connecticut or New Mexico have lower property taxes?

Connecticut has an average property tax rate of 1.57%

In comparison, New Mexico has an average property tax rate of 0.60%

Does Connecticut or New Mexico have lower sales taxes?

Connecticut has a state sales tax rate of 6.35% and an average local rate of 0.00% for a combined total rate of 6.35%.

In contrast, New Mexico has a state sales tax rate of 5.13% and an average local rate of 2.71% for a combined total rate of 7.84%.

Do you get to keep more money in Connecticut or New Mexico?

Based on median household income after income, property and sales taxes Connecticut gives you a maximum amount of disposable income of $63,926

In comparison, New Mexico gives you $44,164.

More Comparisons:

Connecticut vs Nebraska
Connecticut vs Idaho
Connecticut vs West Virginia
Connecticut vs Hawaii
Connecticut vs New Hampshire

Sources:

https://en.wikipedia.org/wiki/State_income_tax#Rates_by_jurisdiction

https://www.bankrate.com/real-estate/property-tax-by-state/#by-state

https://fred.stlouisfed.org/release/tables?eid=259515&rid=249

https://www.fool.com/the-ascent/research/average-house-price-state/

https://taxfoundation.org/data/all/state/2022-sales-taxes/

https://www.forbes.com/advisor/income-tax-calculator/