District Of Columbia vs New Mexico
District of Columbia
Property‑Tax Comparison: District of Columbia vs. New Mexico
Summary – Both jurisdictions levy property taxes, but the effective tax rate and the resulting annual tax payments differ. Using the most recent data from the U.S. Census Bureau, the District of Columbia has a lower effective property‑tax rate than New Mexico, which translates into lower yearly taxes for comparable home values.
Side‑by‑side metrics
| Metric | District of Columbia | New Mexico |
|---|---|---|
| Effective property‑tax rate | 0.58 % | 0.72 % |
| Median home value | $724,600 | $232,200 |
| Median annual property tax | $4,180 | $1,669 |
| Property tax on a $250,000 home | $1,442 | $1,797 |
| Property tax on a $500,000 home | $2,885 | $3,594 |
| Median household income | $106,287 | $62,125 |
All figures are from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates).
Which jurisdiction “wins” on property tax?
Winner (lower tax rate): District of Columbia
- Effective tax‑rate advantage: 0.58 % vs. 0.72 % → a difference of 0.14 percentage points (approximately 19.74 % lower).
- Annual tax difference for a $250k home: $1,797 (NM) – $1,442 (DC) = $355.
- Annual tax difference for a $500k home: $3,594 (NM) – $2,885 (DC) = $709.
Because the District of Columbia’s effective property‑tax rate is lower, owners of homes at any price point will pay less in yearly property tax than owners of comparable homes in New Mexico, all else equal.
Who benefits most from this comparison?
| Audience | Relevance of the comparison |
|---|---|
| Current or prospective homeowners | Knowing the effective tax rate helps estimate ongoing housing costs. The District of Columbia’s lower rate reduces the annual tax burden relative to New Mexico. |
| Real‑estate investors | Lower tax rates can improve cash‑flow projections for rental properties or resale investments. |
| Retirees and fixed‑income households | A lower property‑tax rate can be a factor when selecting a location that aligns with limited income, especially when combined with median household‑income data. |
| Policy analysts / researchers | The side‑by‑side data provide a concise reference for comparative fiscal studies across jurisdictions. |
The comparison is most useful for anyone evaluating ongoing property‑tax costs rather than one‑time purchase price, as it isolates the tax component from other local cost factors (e.g., sales tax, income tax, cost of living).
Sources
- According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates), the effective property‑tax rates and related figures are as shown above.
- For more detailed information on each jurisdiction’s property‑tax structure, see:
All numbers are presented as reported by the Census Bureau and rounded to the nearest dollar where appropriate.
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Discover how property taxes compare across all states in our comprehensive comparison guide.
Data Source
All figures are drawn from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates). This comprehensive dataset provides reliable, standardized property tax information across all states.