New Mexico vs Vermont Taxes: Income, Property & Sales

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

New Mexico vs Vermont Income Tax Comparison

	New Mexico	Vermont
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+	3.35%: $0-$42,150 6.60%: $42,151-$102,200 7.60%: $102,201-$213,150 8.75%: $213,151+
Median Income	$56,420	$72,190
Income Tax Paid On Median Household Income	$7,031	$11,377
Income After Tax Based on Median Household Income	$49,389	$60,813

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New Mexico vs Vermont Property Tax Comparison

	New Mexico	Vermont
Average Property Tax Rate	0.60%	1.43%
Average House Price By State	$293,766	$383,882
Average Property Tax Owed Per Year	$1,763	$5,490
Income After Income Taxes & Property Taxes Based On Median State Household Income	$47,626	$55,323

New Mexico vs Vermont Sales Tax Comparison

	New Mexico	Vermont
Average State Sales Tax	5.13%	6.00%
Average Local Sales Tax Across the State	2.71%	0.24%
Average Combined Sales Tax Rate	7.84%	6.24%
Maximum Amount of Sales Tax Paid Based on Median Household Income	$3,462	$3,249
Maximum Disposable Income Based on Median Household Income	$44,164	$52,074

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

	New Mexico	Vermont
Income Tax Owed	$4,086	$4,022
After Tax Income	$35,914	$35,978
Income After Income & Property Tax	$34,151	$30,488
Maximum Disposable Income After Income, Property & Sales Taxes	$31,669	$28,698

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

	New Mexico	Vermont
Income Tax Owed	$7,994	$7,891
After Tax Income	$52,006	$52,109
Income After Income & Property Tax	$50,243	$46,619
Maximum Disposable Income After Income, Property & Sales Taxes	$46,591	$43,881

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

	New Mexico	Vermont
Income Tax Owed	$13,374	$13,611
After Tax Income	$66,626	$66,389
Income After Income & Property Tax	$64,863	$60,899
Maximum Disposable Income After Income, Property & Sales Taxes	$60,148	$57,323

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

	New Mexico	Vermont
Income Tax Owed	$18,754	$19,331
After Tax Income	$81,246	$80,669
Income After Income & Property Tax	$79,483	$75,179
Maximum Disposable Income After Income, Property & Sales Taxes	$73,705	$70,764

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

	New Mexico	Vermont
Income Tax Owed	$11,704	$11,445
After Tax Income	$88,296	$88,555
Income After Income & Property Tax	$86,533	$83,065
Maximum Disposable Income After Income, Property & Sales Taxes	$80,242	$78,187

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

	New Mexico	Vermont
Income Tax Owed	$24,209	$24,800
After Tax Income	$125,791	$125,200
Income After Income & Property Tax	$124,028	$119,710
Maximum Disposable Income After Income, Property & Sales Taxes	$115,012	$112,679

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

	New Mexico	Vermont
Income Tax Owed	$37,659	$39,233
After Tax Income	$162,341	$160,767
Income After Income & Property Tax	$160,578	$155,277
Maximum Disposable Income After Income, Property & Sales Taxes	$148,904	$146,157

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

	New Mexico	Vermont
Income Tax Owed	$52,028	$54,952
After Tax Income	$197,972	$195,048
Income After Income & Property Tax	$196,209	$189,558
Maximum Disposable Income After Income, Property & Sales Taxes	$181,945	$178,425

FAQ

Does New Mexico or Vermont 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 Vermont’s income tax is the following

• 3.35%: $0-$42,150
• 6.60%: $42,151-$102,200
• 7.60%: $102,201-$213,150
• 8.75%: $213,151+

Does New Mexico or Vermont have lower property taxes?

New Mexico has an average property tax rate of 0.60%

In comparison, Vermont has an average property tax rate of 1.43%

Does New Mexico or Vermont 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, Vermont has a state sales tax rate of 6.00% and an average local rate of 0.24% for a combined total rate of 6.24%.

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

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, Vermont gives you $52,074.

More Comparisons:

New Mexico vs Wyoming
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Nebraska vs West Virginia
Nebraska vs Hawaii
Nebraska 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/