The residents of New Mexico’s most populated county are scheduled to be hit with a hike in the gross receipts tax. On July 1, Bernalillo County’s GRT will rise by three-sixteenths of a percent.
What’s been the general trend in the GRT for New Mexico’s most populated municipalities? The Foundation accessed state data on the 25 largest, and found that from the start of 2000 to the start of 2015, the GRT has increased by an average of 22.0 percent. Española saw the heaviest rise in burden (38.4 percent), Roswell the lightest (9.6 percent).
GRT burdens in the Albuquerque metroplex rose by an average of 25.3 percent:
GRT burdens in the southwest part of the state rose by an average of 20.6 percent:
GRT burdens in the southeast part of the state rose by an average of 19.4 percent:
GRT burdens in the northwest part of the state rose by an average of 23.0 percent:
Note: Anthony is one of the state’s 25 most populated municipalities, but since it was not incorporated in 2000, it was excluded from this analysis.
One Reply to “The GRT Goes in Only One Direction”
All taxes, Federal, State and City should be either GRT or Sales. Do away with all income, property and excise taxes. It is the one true “Fair” tax. Everyone pays what they want to spend. Even medical, food and housing. It would also help reduce personal debt and increase savings. The politicians will not do it because it takes the power out of their control. It would also make it harder to raise taxes because people see the result immediately.