Taking a Look at Taxes in New Mexico!

UNM Hospital no longer needs (as much of) your money

Every eight years, the University of New Mexico Hospital must ask Bernalillo County voters to renew their property-tax mill levy. The tax raises approximately $95 million per year and costs the owner of a $200,000 home between $300 and $400 annually. The median...

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NM can balance budget without hurting economy

No politician relishes the job facing New Mexico’s leadership in the months ahead. Facing massive budget deficits and the prospect of an election-year special session in an unpredictable and unsettled political season is no elected official’s anyone’s idea of fun....

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What to Cut: Finding $600 Million in Savings w/o Raising Taxes

ALBUQUERQUE — It is no secret that New Mexico faces serious budget challenges. Senate Finance Committee Chairman John Arthur Smith called the budget situation “a crisis” and noted that the State is facing a deficit of more than $150 million for the budget year that...

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Other Tax and Budget Public Unions’ Days Numbered

The New Mexico Public Employees Retirement Association is considering reducing future retirement benefits for more than 54,000 government workers, mostly because of growing concerns about the solvency of the fund. It’s about time. The main reason why so many state and...

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Arguments for tax hike still don’t make any sense

The Journal’s Winthrop Quigley responded to the Rio Grande Foundation’s recent op-ed appearing in these pages by assembling a team of ideologically sympathetic economists from around New Mexico to generate a six-page policy brief. Clearly, our work is touching a...

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Not the time to raise taxes for Biopark

D. Dowd Muska, New Mexico Rio Grande Foundation Albuquerque has fewer jobs today than it did in 2007. In July, Bloomberg put it on a list of large cities that “lost the greatest share of local people to other parts of the country between July 2013 and July 2014.” And...

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State Has Many Opportunities to Reduce Spending

Journal columnist Winthrop Quigley seems to believe that what New Mexico’s struggling economy needs right now is higher taxes. We at the Rio Grande Foundation couldn’t disagree more and believe raising taxes would have further deleterious effects on our economy....

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No Need to Raise Taxes in New Mexico

The budget numbers are changing (for the worse) on an almost daily basis. The latest information calls for a 12% decline in General Fund revenues which means a reduction of $700-$800 million (not factoring in rainy-day funds etc). The point remains, as I note below,...

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Keep New Mexico From Being The Greece of North America

Despite (or perhaps because of) the latest bailout, Greece remains deeply-troubled. The crisis has manifested itself due to Europe’s single currency, the Euro. Greece cannot pay its bills, but because of the Euro, it cannot devalue its currency either. So a series of...

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Of Groceries, Ray Guns, and the Gross Receipts Tax

Happy New Fiscal Year. Ready for higher taxes? Starting July 1, furniture, haircuts, toys, shoes, lawn care, and milkshakes will be more expensive for most New Mexicans. The gross receipts tax (GRT), the dominant source of local-government revenue, will rise in many...

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New taxes Aren’t Necessary to Improve Our Roads

The article below ran at the newly-relaunched NMPolitics.net which is managed by the indefatigable Heath Haussamen. We are thrilled to have Heath back at the helm of NMPolitics.net. Check out the site for more content provided by the Rio Grande Foundation and other...

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