Maryland vs New Mexico Taxes: Income, Property & Sales

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

Maryland vs New Mexico Income Tax Comparison

	Maryland	New Mexico
Income Tax Rates & Thresholds	2.00%: $0-$1,000 3.00%: $1,001-$2,000 4.00%: $2,001-$3,000 4.75%: $3,001-$100,000 5.00%: $100,001-$125,000 5.25%: $125,001-$150,000 5.50%: $150,001-$250,000 5.75%: $250,001+	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	$108,200	$56,420
Income Tax Paid On Median Household Income	$21,525	$7,031
Income After Tax Based on Median Household Income	$86,675	$49,389

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Maryland vs New Mexico Property Tax Comparison

	Maryland	New Mexico
Average Property Tax Rate	0.76%	0.60%
Average House Price By State	$416,643	$293,766
Average Property Tax Owed Per Year	$3,166	$1,763
Income After Income Taxes & Property Taxes Based On Median State Household Income	$83,509	$47,626

Maryland vs New Mexico Sales Tax Comparison

	Maryland	New Mexico
Average State Sales Tax	6.00%	5.13%
Average Local Sales Tax Across the State	0.00%	2.71%
Average Combined Sales Tax Rate	6.00%	7.84%
Maximum Amount of Sales Tax Paid Based on Median Household Income	$4,727	$3,462
Maximum Disposable Income Based on Median Household Income	$78,782	$44,164

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

	Maryland	New Mexico
Income Tax Owed	$4,624	$4,086
After Tax Income	$35,376	$35,914
Income After Income & Property Tax	$32,210	$34,151
Maximum Disposable Income After Income, Property & Sales Taxes	$30,386	$31,669

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

	Maryland	New Mexico
Income Tax Owed	$8,502	$7,994
After Tax Income	$51,498	$52,006
Income After Income & Property Tax	$48,332	$50,243
Maximum Disposable Income After Income, Property & Sales Taxes	$45,596	$46,591

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

	Maryland	New Mexico
Income Tax Owed	$13,852	$13,374
After Tax Income	$66,148	$66,626
Income After Income & Property Tax	$62,982	$64,863
Maximum Disposable Income After Income, Property & Sales Taxes	$59,417	$60,148

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

	Maryland	New Mexico
Income Tax Owed	$19,202	$18,754
After Tax Income	$80,798	$81,246
Income After Income & Property Tax	$77,632	$79,483
Maximum Disposable Income After Income, Property & Sales Taxes	$73,237	$73,705

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

	Maryland	New Mexico
Income Tax Owed	$12,651	$11,704
After Tax Income	$87,349	$88,296
Income After Income & Property Tax	$84,183	$86,533
Maximum Disposable Income After Income, Property & Sales Taxes	$79,417	$80,242

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

	Maryland	New Mexico
Income Tax Owed	$25,081	$24,209
After Tax Income	$124,919	$125,791
Income After Income & Property Tax	$121,753	$124,028
Maximum Disposable Income After Income, Property & Sales Taxes	$114,861	$115,012

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

	Maryland	New Mexico
Income Tax Owed	$38,588	$37,659
After Tax Income	$161,412	$162,341
Income After Income & Property Tax	$158,246	$160,578
Maximum Disposable Income After Income, Property & Sales Taxes	$149,288	$148,904

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

	Maryland	New Mexico
Income Tax Owed	$53,167	$52,028
After Tax Income	$196,833	$197,972
Income After Income & Property Tax	$193,667	$196,209
Maximum Disposable Income After Income, Property & Sales Taxes	$182,704	$181,945

FAQ

Does Maryland or New Mexico have lower income taxes?

Maryland’s income tax falls into the following range:

• 2.00%: $0-$1,000
• 3.00%: $1,001-$2,000
• 4.00%: $2,001-$3,000
• 4.75%: $3,001-$100,000
• 5.00%: $100,001-$125,000
• 5.25%: $125,001-$150,000
• 5.50%: $150,001-$250,000
• 5.75%: $250,001+

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 Maryland or New Mexico have lower property taxes?

Maryland has an average property tax rate of 0.76%

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

Does Maryland or New Mexico have lower sales taxes?

Maryland has a state sales tax rate of 6.00% and an average local rate of 0.00% for a combined total rate of 6.00%.

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 Maryland or New Mexico?

Based on median household income after income, property and sales taxes Maryland gives you a maximum amount of disposable income of $78,782

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

More Comparisons:

Maryland vs Nebraska
Maryland vs Idaho
Maryland vs West Virginia
Maryland vs Hawaii
Maryland 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/