Socorro, New Mexico — Tax Burden
What is the tax burden in Socorro, New Mexico?
Socorro, New Mexico has a total tax burden of 9.39%, ranking #4105 nationally. Property tax rate: 0.74%, state income tax: 4.244%, sales tax: 7.72%. Median household income is $42,622.
Source: US Census ACS, 2022
Ranked #4105 nationally for total tax burden among 6,688+ US cities.
Total Tax Burden
9.39%
Rank: 4105th nationally
Property Tax Rate
0.74%
Rank: 4848th nationally
Income Tax Rate
4.244%
New Mexico state rate
Sales Tax Rate
7.72%
State + local combined
Tax Burden Breakdown
Property (28%)Income (45%)Sales (27%)
Median Income: $42,622
Median Home Value: $149,200
Median Property Tax: $1,108/yr
Population: 8,605