New Mexico Tax Rebate 2025 . New Mexico 2023 Tax Rebate For example, an individual who files as single and makes $20,000 per year used to pay a fixed tax of $504.50, plus 4.9% on $4,000 — the amount they made over $16,000, the low end of their bracket Starting in 2026, the property tax rebate will be adjusted.
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These tables compare the existing (old) New Mexico income tax structure and the one signed into law this year (new) This bill increases the veteran property tax exemption from $4,000 to $10,000 starting in tax year 2025
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