Missouri vs New Mexico Taxes: Income, Property & Sales

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

Missouri vs New Mexico Income Tax Comparison

	Missouri	New Mexico
Income Tax Rates & Thresholds	1.50%: $111-$1,121 2.00%: $1,122-$2,242 2.50%: $2,243-$3,363 3.00%: $3,364-$4,484 3.50%: $4,485-$5,605 4.00%: $5,606-$6,726 4.50%: $6,727-$7,847 5.00%: $7,848-$8,968 5.30%: $8,969+	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	$71,520	$56,420
Income Tax Paid On Median Household Income	$11,476	$7,031
Income After Tax Based on Median Household Income	$60,044	$49,389

Top Accounting Software:

Missouri vs New Mexico Property Tax Comparison

	Missouri	New Mexico
Average Property Tax Rate	0.82%	0.60%
Average House Price By State	$239,743	$293,766
Average Property Tax Owed Per Year	$1,966	$1,763
Income After Income Taxes & Property Taxes Based On Median State Household Income	$58,078	$47,626

Missouri vs New Mexico Sales Tax Comparison

	Missouri	New Mexico
Average State Sales Tax	4.23%	5.13%
Average Local Sales Tax Across the State	4.06%	2.71%
Average Combined Sales Tax Rate	8.29%	7.84%
Maximum Amount of Sales Tax Paid Based on Median Household Income	$4,446	$3,462
Maximum Disposable Income Based on Median Household Income	$53,632	$44,164

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

	Missouri	New Mexico
Income Tax Owed	$4,312	$4,086
After Tax Income	$35,688	$35,914
Income After Income & Property Tax	$33,722	$34,151
Maximum Disposable Income After Income, Property & Sales Taxes	$31,141	$31,669

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

	Missouri	New Mexico
Income Tax Owed	$8,320	$7,994
After Tax Income	$51,680	$52,006
Income After Income & Property Tax	$49,714	$50,243
Maximum Disposable Income After Income, Property & Sales Taxes	$45,908	$46,591

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

	Missouri	New Mexico
Income Tax Owed	$13,800	$13,374
After Tax Income	$66,200	$66,626
Income After Income & Property Tax	$64,234	$64,863
Maximum Disposable Income After Income, Property & Sales Taxes	$59,317	$60,148

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

	Missouri	New Mexico
Income Tax Owed	$19,280	$18,754
After Tax Income	$80,720	$81,246
Income After Income & Property Tax	$78,754	$79,483
Maximum Disposable Income After Income, Property & Sales Taxes	$72,725	$73,705

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

	Missouri	New Mexico
Income Tax Owed	$12,294	$11,704
After Tax Income	$87,706	$88,296
Income After Income & Property Tax	$85,740	$86,533
Maximum Disposable Income After Income, Property & Sales Taxes	$79,176	$80,242

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

	Missouri	New Mexico
Income Tax Owed	$25,048	$24,209
After Tax Income	$124,952	$125,791
Income After Income & Property Tax	$122,986	$124,028
Maximum Disposable Income After Income, Property & Sales Taxes	$113,571	$115,012

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

	Missouri	New Mexico
Income Tax Owed	$38,748	$37,659
After Tax Income	$161,252	$162,341
Income After Income & Property Tax	$159,286	$160,578
Maximum Disposable Income After Income, Property & Sales Taxes	$147,092	$148,904

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

	Missouri	New Mexico
Income Tax Owed	$53,367	$52,028
After Tax Income	$196,633	$197,972
Income After Income & Property Tax	$194,667	$196,209
Maximum Disposable Income After Income, Property & Sales Taxes	$179,765	$181,945

FAQ

Does Missouri or New Mexico have lower income taxes?

Missouri’s income tax falls into the following range:

• 1.50%: $111-$1,121
• 2.00%: $1,122-$2,242
• 2.50%: $2,243-$3,363
• 3.00%: $3,364-$4,484
• 3.50%: $4,485-$5,605
• 4.00%: $5,606-$6,726
• 4.50%: $6,727-$7,847
• 5.00%: $7,848-$8,968
• 5.30%: $8,969+

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 Missouri or New Mexico have lower property taxes?

Missouri has an average property tax rate of 0.82%

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

Does Missouri or New Mexico have lower sales taxes?

Missouri has a state sales tax rate of 4.23% and an average local rate of 4.06% for a combined total rate of 8.29%.

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 Missouri or New Mexico?

Based on median household income after income, property and sales taxes Missouri gives you a maximum amount of disposable income of $53,632

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

More Comparisons:

Missouri vs Nebraska
Missouri vs Idaho
Missouri vs West Virginia
Missouri vs Hawaii
Missouri 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/