Georgia vs New Mexico
New Mexico
Property Tax Comparison: Georgia vs. New Mexico
Both Georgia and New Mexico levy property taxes at the county and local level. According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates), the two states differ modestly in effective tax rates, median home values, and the resulting annual tax bills. The following comparison presents the key metrics side‑by‑side and identifies which state has the lower overall property‑tax burden.
Side‑by‑Side Metrics
| Metric (2023 ACS) | Georgia | New Mexico |
|---|---|---|
| Effective property‑tax rate | 0.81 % | 0.72 % |
| Median home value | $272,900 | $232,200 |
| Median annual property tax | $2,214 | $1,669 |
| Property tax on a $250,000 home | $2,028 | $1,797 |
| Property tax on a $500,000 home | $4,057 | $3,594 |
| Median household income | $74,664 | $62,125 |
Sources: “Effective property tax rate,” “Median home value,” “Median annual property tax,” and “Median household income” – U.S. Census Bureau, 2023 American Community Survey (5‑year).
Which State Wins on Property Tax?
Based on the lower effective property‑tax rate, New Mexico is the winner in this comparison.
- Rate difference: 0.09 percentage points (New Mexico’s 0.72 % vs. Georgia’s 0.81 %).
- Relative difference: Approximately 11.4 % lower in New Mexico.
- Dollar impact:
- On a $250,000 home, the annual tax is $231 lower in New Mexico ($2,028 vs. $1,797).
- On a $500,000 home, the annual tax is $463 lower in New Mexico ($4,057 vs. $3,594).
The lower rate in New Mexico translates into modestly reduced tax bills for comparable property values.
Who Is Likely to Benefit Most from This Comparison?
| Audience | Relevance of the Comparison |
|---|---|
| Current homeowners | Understanding how their property‑tax liability would change if they relocated between the two states. |
| Prospective homebuyers | Assessing the ongoing cost of ownership in addition to home price. |
| Retirees | Evaluating states with lower recurring tax expenses, which can affect fixed‑income budgets. |
| Real‑estate investors | Comparing tax overhead when analyzing cash‑flow projections for rental properties. |
| Policy analysts | Using the data to study the relationship between tax rates, home values, and household income across states. |
The analysis is purely quantitative; other factors such as state income tax, sales tax, public‑service levels, and quality of life are not addressed here.
Additional Resources
- For a deeper look at Georgia’s property‑tax structure, see the article on Georgia property tax.
- For details on New Mexico’s property‑tax system, refer to New Mexico property tax.
Based on U.S. Census Bureau data, the figures represent estimates from the 2023 American Community Survey (5‑year). All values are presented as reported and have not been adjusted for inflation or local assessment variations.
Explore More Comparisons
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.