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How did New Mexico earn the grade of D+? We examined the state taxes based on how age friendly they are. New Mexico has a state sales tax of 5.13%. Of particular interest is that New Mexico does have taxes on social security. There are no estate taxes. There are no taxes imposed on inheritance. New Mexico has an effective property tax rate of 0.76%. Weighing these taxes and other taxes most likely to impact the aging population is how New Mexico earned its state tax grade of D+.
Learn more about taxes in New Mexico