New Mexico vs Rhode Island Taxes: Income, Property & Sales

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

New Mexico vs Rhode Island Income Tax Comparison

	New Mexico	Rhode Island
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+	3.75%: $0-$68,200 4.75%: $68,201-$155,050 5.99%: $155,051+
Median Income	$56,420	$80,650
Income Tax Paid On Median Household Income	$7,031	$13,023
Income After Tax Based on Median Household Income	$49,389	$67,627

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New Mexico vs Rhode Island Property Tax Comparison

	New Mexico	Rhode Island
Average Property Tax Rate	0.60%	1.01%
Average House Price By State	$293,766	$442,945
Average Property Tax Owed Per Year	$1,763	$4,474
Income After Income Taxes & Property Taxes Based On Median State Household Income	$47,626	$63,153

New Mexico vs Rhode Island Sales Tax Comparison

	New Mexico	Rhode Island
Average State Sales Tax	5.13%	7.00%
Average Local Sales Tax Across the State	2.71%	0.00%
Average Combined Sales Tax Rate	7.84%	7.00%
Maximum Amount of Sales Tax Paid Based on Median Household Income	$3,462	$4,132
Maximum Disposable Income Based on Median Household Income	$44,164	$59,022

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

	New Mexico	Rhode Island
Income Tax Owed	$4,086	$4,029
After Tax Income	$35,914	$35,971
Income After Income & Property Tax	$34,151	$31,497
Maximum Disposable Income After Income, Property & Sales Taxes	$31,669	$29,437

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

	New Mexico	Rhode Island
Income Tax Owed	$7,994	$7,706
After Tax Income	$52,006	$52,294
Income After Income & Property Tax	$50,243	$47,820
Maximum Disposable Income After Income, Property & Sales Taxes	$46,591	$44,692

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

	New Mexico	Rhode Island
Income Tax Owed	$13,374	$12,856
After Tax Income	$66,626	$67,144
Income After Income & Property Tax	$64,863	$62,670
Maximum Disposable Income After Income, Property & Sales Taxes	$60,148	$58,570

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

	New Mexico	Rhode Island
Income Tax Owed	$18,754	$18,187
After Tax Income	$81,246	$81,813
Income After Income & Property Tax	$79,483	$77,339
Maximum Disposable Income After Income, Property & Sales Taxes	$73,705	$72,280

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

	New Mexico	Rhode Island
Income Tax Owed	$11,704	$11,252
After Tax Income	$88,296	$88,748
Income After Income & Property Tax	$86,533	$84,274
Maximum Disposable Income After Income, Property & Sales Taxes	$80,242	$78,761

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

	New Mexico	Rhode Island
Income Tax Owed	$24,209	$23,682
After Tax Income	$125,791	$126,318
Income After Income & Property Tax	$124,028	$121,844
Maximum Disposable Income After Income, Property & Sales Taxes	$115,012	$113,873

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

	New Mexico	Rhode Island
Income Tax Owed	$37,659	$37,276
After Tax Income	$162,341	$162,724
Income After Income & Property Tax	$160,578	$158,250
Maximum Disposable Income After Income, Property & Sales Taxes	$148,904	$147,897

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

	New Mexico	Rhode Island
Income Tax Owed	$52,028	$52,190
After Tax Income	$197,972	$197,810
Income After Income & Property Tax	$196,209	$193,336
Maximum Disposable Income After Income, Property & Sales Taxes	$181,945	$180,688

FAQ

Does New Mexico or Rhode Island 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 Rhode Island’s income tax is the following

• 3.75%: $0-$68,200
• 4.75%: $68,201-$155,050
• 5.99%: $155,051+

Does New Mexico or Rhode Island have lower property taxes?

New Mexico has an average property tax rate of 0.60%

In comparison, Rhode Island has an average property tax rate of 1.01%

Does New Mexico or Rhode Island 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, Rhode Island has a state sales tax rate of 7.00% and an average local rate of 0.00% for a combined total rate of 7.00%.

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

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, Rhode Island gives you $59,022.

More Comparisons:

New Mexico vs Delaware
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New Mexico vs North Dakota
New Mexico vs Alaska
New Mexico vs Washington DC

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/