New Mexico Taxpayers at Bottom of the List for Return on Investment, New Survey Shows
New Mexicans pay a decent amount of taxes, but according to a new survey by WalletHub they don’t get much in return for those taxes when it comes government services like safety, education and economic opportunity.
In fact, New Mexico had the third worst return on investment for taxes paid in 2017, WalletHub said.
The survey ranked government services in five categories and New Mexico was last in three of them: education, safety and the economy.
The state’s ROI on health services was ranked 26th, while it had the eighth best ROI for infrastructure.
Overall, New Mexico’s per capita tax burden was 32nd among the states, and it ranked 48th for ROI on those taxes.
New Hampshire had the best taxpayer ROI, while North Dakota had the worst.
In ranking the states on their economies, WalletHub looked at median household income, job growth rates, unemployment and the share of residents living below the poverty line.
New Mexico’s economy has pretty much stagnated since 2008, and the state has yet to recover all the jobs it lost during the recession.
For education, WalletHub looked at high school graduation rates and the quality of public university systems.
New Mexico’s high school graduation rate was 71 percent last year, one of the lowest in the nation. The national graduation rate in 2015 was 83 percent.