Gross Receipts Tax
The combined Gross Receipts Tax rate for Rio Communities is currently 7.1875%. As in all of New Mexico, food and prescription medicines are not taxed.
Property Taxes
Property Taxes in Rio Communities are among the lowest in the nation. The mill rate for residential property in Rio Communities is only 24.584. Thus a home with a market value of $120,000 would pay only $983.36 in property taxes each year. (120/3 * 24.584 = 983.36). For commercial property the mill rate is 29.837.
http://www.co.valencia.nm.us/departments/assessor/Tax_Rates.html
Below is additional information taken from Albuquerque Economic Development’s Business Location Profile for the Metro Area, which can be downloaded here:
Rio Communities | Economic Development 