Michigan vs New Mexico Taxes: Income, Property & Sales

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

Michigan vs New Mexico Income Tax Comparison

	Michigan	New Mexico
Income Tax Rates & Thresholds	4.25%	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	$68,990	$56,420
Income Tax Paid On Median Household Income	$10,665	$7,031
Income After Tax Based on Median Household Income	$58,325	$49,389

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Michigan vs New Mexico Property Tax Comparison

	Michigan	New Mexico
Average Property Tax Rate	1.06%	0.60%
Average House Price By State	$233,019	$293,766
Average Property Tax Owed Per Year	$2,470	$1,763
Income After Income Taxes & Property Taxes Based On Median State Household Income	$55,855	$47,626

Michigan vs New Mexico Sales Tax Comparison

	Michigan	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	$3,162	$3,462
Maximum Disposable Income Based on Median Household Income	$52,693	$44,164

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

	Michigan	New Mexico
Income Tax Owed	$4,528	$4,086
After Tax Income	$35,472	$35,914
Income After Income & Property Tax	$33,002	$34,151
Maximum Disposable Income After Income, Property & Sales Taxes	$31,134	$31,669

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

	Michigan	New Mexico
Income Tax Owed	$8,305	$7,994
After Tax Income	$51,695	$52,006
Income After Income & Property Tax	$49,225	$50,243
Maximum Disposable Income After Income, Property & Sales Taxes	$46,439	$46,591

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

	Michigan	New Mexico
Income Tax Owed	$13,555	$13,374
After Tax Income	$66,445	$66,626
Income After Income & Property Tax	$63,975	$64,863
Maximum Disposable Income After Income, Property & Sales Taxes	$60,354	$60,148

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

	Michigan	New Mexico
Income Tax Owed	$18,805	$18,754
After Tax Income	$81,195	$81,246
Income After Income & Property Tax	$78,725	$79,483
Maximum Disposable Income After Income, Property & Sales Taxes	$74,269	$73,705

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

	Michigan	New Mexico
Income Tax Owed	$12,306	$11,704
After Tax Income	$87,694	$88,296
Income After Income & Property Tax	$85,224	$86,533
Maximum Disposable Income After Income, Property & Sales Taxes	$80,400	$80,242

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

	Michigan	New Mexico
Income Tax Owed	$24,486	$24,209
After Tax Income	$125,514	$125,791
Income After Income & Property Tax	$123,044	$124,028
Maximum Disposable Income After Income, Property & Sales Taxes	$116,079	$115,012

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

	Michigan	New Mexico
Income Tax Owed	$37,611	$37,659
After Tax Income	$162,389	$162,341
Income After Income & Property Tax	$159,919	$160,578
Maximum Disposable Income After Income, Property & Sales Taxes	$150,867	$148,904

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

	Michigan	New Mexico
Income Tax Owed	$51,655	$52,028
After Tax Income	$198,345	$197,972
Income After Income & Property Tax	$195,875	$196,209
Maximum Disposable Income After Income, Property & Sales Taxes	$184,788	$181,945

FAQ

Does Michigan or New Mexico have lower income taxes?

Michigan’s income tax falls into the following range: 4.25%

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 Michigan or New Mexico have lower property taxes?

Michigan has an average property tax rate of 1.06%

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

Does Michigan or New Mexico have lower sales taxes?

Michigan 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 Michigan or New Mexico?

Based on median household income after income, property and sales taxes Michigan gives you a maximum amount of disposable income of $52,693

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

More Comparisons:

Michigan vs Nebraska
Michigan vs Idaho
Michigan vs West Virginia
Michigan vs Hawaii
Michigan 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/