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U.S. State47th State • January 6, 1912
New Mexico State Flag

New Mexico NM

"The Land of Enchantment"

Ancient Pueblo civilizations, Spanish colonial history, the Manhattan Project, and two of the world's most important scientific laboratories, all set against landscapes that have inspired artists, adventurers, and astronomers for millennia.

New Mexico state finances at a glance

State Debt - FY2024

$7.1 billion

Total state government debt outstanding at the close of fiscal 2024, including long-term bonds and short-term borrowing across state agencies and public universities.

Tax Revenue - FY2024

$14.2 billion

Total New Mexico state tax collections in fiscal 2024, led by severance taxes on oil and gas ($4.7B) and the state gross receipts tax ($4.3B), reflecting the state's heavy reliance on energy production.

Borrowing

New Mexico issues small general obligation bonds that voters approve every two years, backed by a statewide property tax, plus large severance tax bonds backed by oil and gas revenue. Both are sold to investors in the tax-exempt municipal market. The state reported about $290 million in interest on its debt in fiscal 2024.

Source: U.S. Census Bureau, 2024 Annual Survey of State Government Finances.

2.1M
Population
47th
State (1912)
#1
PhDs Per Capita
1945
Trinity Test
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