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 5,677,140,000
    1993 6,072,220,000
    1994 7,010,670,000
    1995 6,863,070,000
    1996 7,185,250,000
    1997 7,171,420,000
    1998 8,605,720,000
    1999 7,388,230,000
    2000 9,775,650,000
    2001 9,203,840,000
    2002 10,621,730,000
    2003 8,462,820,000
    2004 8,804,990,000
    2005 10,691,390,000
    2006 11,262,720,000
    2007 12,870,000,000
    2008 11,641,200,000
    2009 12,748,560,000
    2010 11,746,490,000
    2011 9,472,430,000
    2012 9,700,490,000
    2013 9,875,120,000
    2014 10,971,070,000
    2015 11,466,800,000
    2016 12,128,400,000
    2017 12,263,140,000
    2018 12,263,180,000
    2019 11,739,430,000
    2020 12,594,500,000
*All spending figures are in inflation-adjusted 2020 dollars.