{
 "state": "New Mexico",
 "code": "NM",
 "url": "https://cartaxhq.com/new-mexico/",
 "summary": "New Mexico has no yearly car tax based on value. Registration is a flat fee by weight and age. When you title a car you pay a one-time 4% Motor Vehicle Excise Tax in place of sales tax.",
 "annual": {
  "kind": "none",
  "note": "No yearly car tax; only registration fees."
 },
 "purchase": {
  "rate": 4,
  "name": "New Mexico motor vehicle excise tax",
  "localAdds": false,
  "tradeInCredit": true,
  "note": "4% of the price after trade-in (3% before July 2019). For a private sale, NADA value is used if the declared price is under 80% of NADA. A 2026 bill (SB 60) proposed changes; enactment unconfirmed."
 },
 "registration": "Registration costs about $27–$62 a year, by weight and age.",
 "due": "No yearly car tax. Registration renews every year or two.",
 "sources": [
  {
   "title": "NM MVD – Fees, penalties and excise tax",
   "url": "https://www.mvd.newmexico.gov/chapter-6-fees-penalties-and-excise-tax/"
  }
 ],
 "verified": "2026-10-14",
 "places": []
}