New Mexico Fiscal Statistics

StatisNostics/State Financials/New Mexico

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20122021

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State Revenue Analysis (New Mexico: 2012–2021)

Population: 2,084,594 → 2,096,829 (0.6% change)

Overall Revenue Trends

Total Revenue▲ 73.3%

$14,751,471,000 (2012)→$25,568,215,000 (2021)

Per Capita Revenue▲ 72.3%

$7,076 (2012)→$12,194 (2021)

Fund Balances▲ 108.2%

$21,789,399,000 (2012)→$45,368,027,000 (2021)

Revenue Volatility✓ Low

Avg. fluctuation: 7.8%

Major Tax Revenue

Property Tax▲ 13.1%

$81,190,000 (2012)→$91,813,000 (2021)

Sales Tax▲ 46.2%

$2,032,518,000 (2012)→$2,971,970,000 (2021)

Utility Revenue

Growth Analysis

Fastest Growing Revenue Sources

Public Utility License Tax▲ 1284.6%

$130,000→$1,800,000

Federal Intergovernmental Health & Hospitals▲ 781.7%

$165,768,000→$1,461,601,000

Amusement License Tax▲ 503.1%

$392,000→$2,364,000

Declining/Slowest Growing Sources

Federal Intergovernmental Air Transportation▼ 99.4%

$158,000→$1,000

Unemployment - Interest Revenue▼ 86.3%

$3,542,000→$486,000

Parks & Recreation Charges▼ 75.3%

$5,097,000→$1,258,000

Revenue Forecast

Projected Revenue (Next Year)▲ 11.4%

Estimated: $28,495,675,207

Based on 3-year revenue trend

Revenue Composition

2012 Revenue Sources

Federal Intergovernmental Public Welfare23.2%

Total General Sales Taxes13.8%

Individual Income Tax7.6%

Royalties7.0%

Severance Tax6.4%

Federal Intergovernmental Education5.3%

Hospital Charges4.9%

Interest Earnings4.0%

Higher Education Tuition Charges3.1%

Federal Intergovernmental Highways2.9%

Miscellaneous General Revenue Not Elsewhere Classified2.6%

Corporation Net Income Tax1.9%

Motor Fuels Sales Tax1.6%

Unemployment - Contribution1.5%

Motor Vehicle License1.2%

Federal Intergovernmental Health & Hospitals1.1%

Federal Intergovernmental Other1.0%

Insurance Premium Tax1.0%

Rents0.9%

Local Intergovernmental Health & Hospitals0.9%

Other Selective Sales Taxes0.8%

Higher Education Auxiliary Charges0.7%

Tobacco Sales Tax0.6%

Donations From Private Sources0.6%

Property Tax0.6%

Amusement Tax0.5%

Federal Intergovernmental Housing & Community Development0.5%

All Other Not Elsewhere Classified Charges0.5%

Federal Intergovernmental Other Natural Resources0.4%

Local Intergovernmental Education0.4%

Occupation & Business License Not Elsewhere Classified0.3%

Alcoholic Beverage Sales Tax0.3%

Federal Intergovernmental Water Utilities0.3%

Net Lottery Revenue0.3%

Workers Compensation - Other Contributions0.2%

Public Utilities Tax0.2%

Hunting & Fishing License0.2%

Corporation License Tax0.1%

Fines & Forfeits0.1%

Federal Intergovernmental Sewerage0.1%

Federal Intergovernmental Transit Utilities0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Federal Intergovernmental Employment Security Administration0.1%

Regular Highway Charges0.1%

Education Other State Charges Not Elsewhere Classified0.0%

Sale of Property0.0%

Parks & Recreation Charges0.0%

Housing & Community Development Charges0.0%

Motor Vehicle Operators License0.0%

Unemployment - Interest Revenue0.0%

Other In Trust - Other Contributions0.0%

Parimutuels Tax0.0%

Amusement License Tax0.0%

Federal Intergovernmental Air Transportation0.0%

Public Utility License Tax0.0%

2021 Revenue Sources

Federal Intergovernmental Public Welfare31.9%

Total General Sales Taxes11.6%

Royalties7.8%

Severance Tax7.1%

Federal Intergovernmental Health & Hospitals5.7%

Hospital Charges5.6%

Individual Income Tax4.7%

Federal Intergovernmental Education3.9%

Interest Earnings3.5%

Federal Intergovernmental Other2.5%

Higher Education Tuition Charges2.0%

Miscellaneous General Revenue Not Elsewhere Classified1.8%

Federal Intergovernmental Highways1.6%

Insurance Premium Tax0.9%

Motor Fuels Sales Tax0.9%

Motor Vehicle License0.8%

Other Selective Sales Taxes0.6%

Unemployment - Contribution0.6%

Local Intergovernmental Health & Hospitals0.6%

Corporation Net Income Tax0.6%

All Other Not Elsewhere Classified Charges0.6%

Federal Intergovernmental Housing & Community Development0.4%

Tobacco Sales Tax0.4%

Property Tax0.4%

Local Intergovernmental Education0.3%

Donations From Private Sources0.3%

Rents0.3%

Net Lottery Revenue0.3%

Amusement Tax0.3%

Federal Intergovernmental Other Natural Resources0.3%

Taxes Not Elsewhere Classified0.2%

Occupation & Business License Not Elsewhere Classified0.2%

Higher Education Auxiliary Charges0.2%

Corporation License Tax0.2%

Public Utilities Tax0.1%

Fines & Forfeits0.1%

Local Intergovernmental Public Welfare0.1%

Hunting & Fishing License0.1%

Federal Intergovernmental Transit Utilities0.1%

Alcoholic Beverage Sales Tax0.1%

Regular Highway Charges0.1%

Workers Compensation - Other Contributions0.0%

Housing & Community Development Charges0.0%

Federal Intergovernmental Employment Security Administration0.0%

Federal Intergovernmental Water Utilities0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Federal Intergovernmental Sewerage0.0%

Natural Resources Not Elsewhere Classified Charges0.0%

Motor Vehicle Operators License0.0%

Amusement License Tax0.0%

Public Utility License Tax0.0%

Sale of Property0.0%

Parks & Recreation Charges0.0%

Local Intergovernmental Other0.0%

Solid Waste Charges0.0%

Parimutuels Tax0.0%

Unemployment - Interest Revenue0.0%

Federal Intergovernmental Air Transportation0.0%

Key Insights

1Total revenue increased by 73.3% from 2012 to 2021, representing a significant change in the state's financial position.
2Population changed by 0.6%, while per-capita revenue changed by 72.3%.
3The state's fund balances increased by 108.2%, suggesting improved fiscal health.

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State Expense Analysis (New Mexico: 2012 - 2021)

Total Expenditure Trends

Operating Expenditures▲ 60%

$5,223,317,000→$8,348,712,000

Per Capita Spending▲ 59%

$2,506→$3,982

Population Trends

Population Change▲ 0.6%

2,084,594 (2012)→2,096,829 (2021)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 25%

$0 (2012)→$0 (2021)

Fire Protection▼ 0%

$0 (2012)→$0 (2021)

Infrastructure Expenses

Highways Maintenance▲ 34%

$0 (2012)→$0 (2021)

Sewerage Operations▼ 0%

$0 (2012)→$0 (2021)

Administrative Expenses

Financial Administration▲ 42%

$0 (2012)→$0 (2021)

General Expenses▲ 474%

$0 (2012)→$0 (2021)

New Mexico Key Insights

1Per capita expenditures grew by 59%, indicating substantial service expansion or cost increases not explained by population growth alone
2General expenses increased dramatically by 474%, which may indicate classification changes, new initiatives, or reporting adjustments

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State Debt Analysis (2012-2021)

Debt Trends

Total Long-Term Debt▼ 5%

$4,852,036,000 (2012)→$4,632,409,000 (2021)

Industrial Revenue Debt▲ 4%

$2,665,664,000 (2012)→$2,765,223,000 (2021)

Per Capita Debt▼ 5%

$2,328 (2012)→$2,209 (2021)

Population Trends

Population Change▲ 0.6%

2,084,594 (2012)→2,096,829 (2021)

Debt Management

Most Recent Year (2021)

Issued:$967,285,000

Retired:$791,004,000

Net Change:+$176,281,000

Debt Retirement Trend

$1,012,937,000 → $791,004,000▼ 22%