Please note that data are cataloged by fiscal years -- you can switch to different years using the links below. For more info see our user guide.
New Mexico 2018 Revenue Lost to Tax Abatement Programs
Click on the name of a program for more details.
|Program Name||Program Type||Revenue Loss|
|Advanced Energy Deduction -- Gross Receipts and Compensating Taxes||Energy production||$500,000|
|Credit for Preservation of Cultural Property||Historic preservation||$0|
|Credit for Preservation of Cultural Property - Corporate Income Tax Credit||Historic preservation||$166,694|
|Deduction -- Gross Receipts Tax -- Sale of Construction Equipment and Construction Material Used in New Facility Construction of a Sole Community Provider Hospital That is Located in a Federally Designated Health Professional Shortage Area||Healthcare||$0|
|Deduction -- Gross Receipts Tax -- Sale of Engineering, Architectural and New Facility Construction Services used in Construction of Certain Public Health Care Facilities||Healthcare||$0|
|Film and Television Tax Credit||Film production||$1,380,619|
|Renewable Energy Production Tax Credit||Energy production||$0|
|TABULATED STATE-LEVEL TOTAL||$2,047,313|
Tabulated localities and districts
Click on the name of jurisdiction for a list of tax abatement programs that reduced its tax revenue.
We estimated the reporting rate among local governments for each state using 2018 and 2019 data. This is to gauge how much data is available in that state.
For New Mexico, the estimated reporting rate is as follows:
Cities/counties: 30 out of 34 CAFRs or financial statements we examined provided information on tax abatement programs in accordance with GASB Statement No.77.
School districts: 82 out of 87 CAFRs or financial statements we examined provided information on tax abatement programs in accordance with GASB Statement No.77.
Concerned about the lack of disclosure? Check out the roadmap on GASB 77 compliance we created for NM. You can also get a CSV file of the localities in NM that did not make any tax abatement disclosures in their annual financial reports.
Local government / school district financial audits are posted here.