New Mexico has the lowest property taxed in the entire country, but how will the new tax changes affect your retirement taxes? New Mexico taxes retirement income. Yet, the state also offers a deduction to any seniors below a certain limit. So, how will the new Federal changes affect your New Mexico retirement income taxes?
Check out this cool calculator to see how the new tax changes for 2018 will affect your retirement income taxation from the State of New Mexico. All you have to do is head over to the SmartAsset calculator and plug in your basic data. You don’t enter any personal information. It will give you a good idea of the State income taxes you will end up paying for the year.
You’ll find that New Mexico is fairly tax-friendly toward seniors and social security income is only partially taxed here. Public pension, private pension and withdrawals from retirement accounts are only partially taxed as well.
Meanwhile, regular wages are taxed at normal rates, with a marginal state tax rate of 4.9%.
New Mexico is a great place to retire. If you’re considering moving to the state, please check out Angel Fire, New Mexico and the surrounding area. Then, give us a call or send us an inquiry!
ARE YOU LOOKING FOR REAL ESTATE IN NORTHERN NEW MEXICO?
If you’re interested in moving to or within Northern New Mexico, contact Coldwell Banker Headin’ Home Realty for all the best listings and most up-to-date information. We are your Angel Fire area experts. Our talented, helpful real estate agents in Angel Fire specialize in residential homes, commercial buildings, condos, vacant lots, and ski properties. We’d love to help you find property with ski in ski out access in the Angel Fire, Eagle Nest, Red River, Mora, Colfax County, Taos, and the Taos Ski Valley areas.
Reach us by telephone at 1-575-377-1192 or by email. Check out our online listings from the comfort of your home. View virtual tours of Angel Fire real estate. You can also just swing in and see us! We are located right in the heart of Angel Fire, in the Mountain View Mall next to Lowes Grocery Store.
Don’t forget to find us on Facebook for the latest information on Angel Fire property listings! So, whether you are looking for ski property, land, or a mountain home, we are eager to help make your dream come true!