Seal of New Mexico New Mexico

New Mexico does not currently have a tax and expenditure limit.

 
The base year represents the year the hypothetical Taxpayer's Bill of Rights (TABOR) would have been enacted. Selecting a base year changes how the state’s TABOR is calculated because the annual growth rates of inflation and population change depending on when TABOR is enacted.
  • Year Inflation-adjusted Actual Spending
    1992 5,560,839,702
    1993 6,056,153,718
    1994 7,005,762,034
    1995 6,914,397,021
    1996 7,302,196,612
    1997 7,341,447,608
    1998 8,850,137,787
    1999 7,682,219,834
    2000 10,244,356,460
    2001 9,714,631,168
    2002 11,219,563,610
    2003 8,941,501,693
    2004 9,342,729,461
    2005 11,358,256,970
    2006 12,092,124,430
    2007 13,795,398,800
    2008 12,624,576,760
    2009 13,749,550,430
    2010 12,655,055,200
    2011 10,299,508,390
    2012 10,537,647,740
    2013 10,778,511,020
    2014 12,026,121,670
    2015 12,546,542,660
    2016 13,259,054,290
    2017 13,424,934,030
    2018 13,538,879,590
    2019 13,146,640,100
    2020 13,887,747,520
    2021 12,972,018,750
    2022 12,304,900,000
*All spending figures are in inflation-adjusted 2022 dollars.