Wisconsin vs New Mexico Taxes: Income, Property & Sales

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

Wisconsin vs New Mexico Income Tax Comparison

	Wisconsin	New Mexico
Income Tax Rates & Thresholds	3.54%: $0-$12,760 4.65%: $12,761-$25,520 5.30%: $25,521-$280,950 7.65%: $280,951+	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	$73,330	$56,420
Income Tax Paid On Median Household Income	$11,817	$7,031
Income After Tax Based on Median Household Income	$61,513	$49,389

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Wisconsin vs New Mexico Property Tax Comparison

	Wisconsin	New Mexico
Average Property Tax Rate	1.15%	0.60%
Average House Price By State	$288,596	$293,766
Average Property Tax Owed Per Year	$3,319	$1,763
Income After Income Taxes & Property Taxes Based On Median State Household Income	$58,194	$47,626

Wisconsin vs New Mexico Sales Tax Comparison

	Wisconsin	New Mexico
Average State Sales Tax	5.00%	5.13%
Average Local Sales Tax Across the State	0.43%	2.71%
Average Combined Sales Tax Rate	5.43%	7.84%
Maximum Amount of Sales Tax Paid Based on Median Household Income	$2,997	$3,462
Maximum Disposable Income Based on Median Household Income	$55,197	$44,164

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

	Wisconsin	New Mexico
Income Tax Owed	$4,191	$4,086
After Tax Income	$35,809	$35,914
Income After Income & Property Tax	$32,490	$34,151
Maximum Disposable Income After Income, Property & Sales Taxes	$30,817	$31,669

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

	Wisconsin	New Mexico
Income Tax Owed	$8,178	$7,994
After Tax Income	$51,822	$52,006
Income After Income & Property Tax	$48,503	$50,243
Maximum Disposable Income After Income, Property & Sales Taxes	$46,005	$46,591

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

	Wisconsin	New Mexico
Income Tax Owed	$13,638	$13,374
After Tax Income	$66,362	$66,626
Income After Income & Property Tax	$63,043	$64,863
Maximum Disposable Income After Income, Property & Sales Taxes	$59,796	$60,148

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

	Wisconsin	New Mexico
Income Tax Owed	$19,098	$18,754
After Tax Income	$80,902	$81,246
Income After Income & Property Tax	$77,583	$79,483
Maximum Disposable Income After Income, Property & Sales Taxes	$73,587	$73,705

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

	Wisconsin	New Mexico
Income Tax Owed	$12,140	$11,704
After Tax Income	$87,860	$88,296
Income After Income & Property Tax	$84,541	$86,533
Maximum Disposable Income After Income, Property & Sales Taxes	$80,187	$80,242

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

	Wisconsin	New Mexico
Income Tax Owed	$24,845	$24,209
After Tax Income	$125,155	$125,791
Income After Income & Property Tax	$121,836	$124,028
Maximum Disposable Income After Income, Property & Sales Taxes	$115,561	$115,012

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

	Wisconsin	New Mexico
Income Tax Owed	$38,495	$37,659
After Tax Income	$161,505	$162,341
Income After Income & Property Tax	$158,186	$160,578
Maximum Disposable Income After Income, Property & Sales Taxes	$150,039	$148,904

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

	Wisconsin	New Mexico
Income Tax Owed	$53,064	$52,028
After Tax Income	$196,936	$197,972
Income After Income & Property Tax	$193,617	$196,209
Maximum Disposable Income After Income, Property & Sales Taxes	$183,645	$181,945

FAQ

Does Wisconsin or New Mexico have lower income taxes?

Wisconsin’s income tax falls into the following range:

• 3.54%: $0-$12,760
• 4.65%: $12,761-$25,520
• 5.30%: $25,521-$280,950
• 7.65%: $280,951+

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 Wisconsin or New Mexico have lower property taxes?

Wisconsin has an average property tax rate of 1.15%

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

Does Wisconsin or New Mexico have lower sales taxes?

Wisconsin has a state sales tax rate of 5.00% and an average local rate of 0.43% for a combined total rate of 5.43%.

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 Wisconsin or New Mexico?

Based on median household income after income, property and sales taxes Wisconsin gives you a maximum amount of disposable income of $55,197

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

More Comparisons:

Wisconsin vs Nebraska
Wisconsin vs Idaho
Wisconsin vs West Virginia
Wisconsin vs Hawaii
Wisconsin 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/