New Mexico vs Delaware Taxes: Income, Property & Sales

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

New Mexico vs Delaware Income Tax Comparison

	New Mexico	Delaware
Income Tax Rates & Thresholds	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+	2.20%: $2,000-$,5000 3.90%: $5,001-$10,000 4.80%: $10,001-$20,000 5.20%: $20,001-$25,000 5.55%: $25,001-$60,000 6.60%: $60,001+
Median Income	$56,420	$80,750
Income Tax Paid On Median Household Income	$7,031	$14,624
Income After Tax Based on Median Household Income	$49,389	$66,126

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New Mexico vs Delaware Property Tax Comparison

	New Mexico	Delaware
Average Property Tax Rate	0.60%	0.48%
Average House Price By State	$293,766	$367,443
Average Property Tax Owed Per Year	$1,763	$1,764
Income After Income Taxes & Property Taxes Based On Median State Household Income	$47,626	$64,362

New Mexico vs Delaware Sales Tax Comparison

	New Mexico	Delaware
Average State Sales Tax	5.13%	0.00%
Average Local Sales Tax Across the State	2.71%	0.00%
Average Combined Sales Tax Rate	7.84%	0.00%
Maximum Amount of Sales Tax Paid Based on Median Household Income	$3,462	$0
Maximum Disposable Income Based on Median Household Income	$44,164	$64,362

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

	New Mexico	Delaware
Income Tax Owed	$4,086	$4,687
After Tax Income	$35,914	$35,313
Income After Income & Property Tax	$34,151	$33,549
Maximum Disposable Income After Income, Property & Sales Taxes	$31,669	$33,549

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

	New Mexico	Delaware
Income Tax Owed	$7,994	$8,725
After Tax Income	$52,006	$51,275
Income After Income & Property Tax	$50,243	$49,511
Maximum Disposable Income After Income, Property & Sales Taxes	$46,591	$49,511

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

	New Mexico	Delaware
Income Tax Owed	$13,374	$14,410
After Tax Income	$66,626	$65,590
Income After Income & Property Tax	$64,863	$63,826
Maximum Disposable Income After Income, Property & Sales Taxes	$60,148	$63,826

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

	New Mexico	Delaware
Income Tax Owed	$18,754	$20,130
After Tax Income	$81,246	$79,870
Income After Income & Property Tax	$79,483	$78,106
Maximum Disposable Income After Income, Property & Sales Taxes	$73,705	$78,106

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

	New Mexico	Delaware
Income Tax Owed	$11,704	$13,621
After Tax Income	$88,296	$86,379
Income After Income & Property Tax	$86,533	$84,615
Maximum Disposable Income After Income, Property & Sales Taxes	$80,242	$84,615

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

	New Mexico	Delaware
Income Tax Owed	$24,209	$26,976
After Tax Income	$125,791	$123,024
Income After Income & Property Tax	$124,028	$121,260
Maximum Disposable Income After Income, Property & Sales Taxes	$115,012	$121,260

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

	New Mexico	Delaware
Income Tax Owed	$37,659	$41,276
After Tax Income	$162,341	$158,724
Income After Income & Property Tax	$160,578	$156,960
Maximum Disposable Income After Income, Property & Sales Taxes	$148,904	$156,960

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

	New Mexico	Delaware
Income Tax Owed	$52,028	$56,495
After Tax Income	$197,972	$193,505
Income After Income & Property Tax	$196,209	$191,741
Maximum Disposable Income After Income, Property & Sales Taxes	$181,945	$191,741

FAQ

Does New Mexico or Delaware have lower income taxes?

New Mexico’s income tax falls into the following range:

• 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+

Whereas Delaware’s income tax is the following

• 2.20%: $2,000-$,5000
• 3.90%: $5,001-$10,000
• 4.80%: $10,001-$20,000
• 5.20%: $20,001-$25,000
• 5.55%: $25,001-$60,000
• 6.60%: $60,001+

Does New Mexico or Delaware have lower property taxes?

New Mexico has an average property tax rate of 0.60%

In comparison, Delaware has an average property tax rate of 0.48%

Does New Mexico or Delaware have lower sales taxes?

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%.

In contrast, Delaware has a state sales tax rate of 0.00% and an average local rate of 0.00% for a combined total rate of 0.00%.

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

Based on median household income after income, property and sales taxes New Mexico gives you a maximum amount of disposable income of $44,164

In comparison, Delaware gives you $64,362.

More Comparisons:

New Mexico vs South Dakota
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New Mexico vs Alaska
New Mexico vs Washington DC
New Mexico vs Vermont

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/