State Tax Collections: T24 Motor Vehicles License for New Mexico
QTAXT24QTAXCAT3NMNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
53.00
Year-over-Year Change
3.92%
Date Range
1/1/1994 - 1/1/2025
Summary
This economic trend measures the total tax collections from motor vehicle licenses in the state of New Mexico. It is an important indicator of transportation funding and economic activity levels.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The State Tax Collections: T24 Motor Vehicles License for New Mexico series tracks the total revenue generated by the state government through taxes on motor vehicle registrations and licenses. This provides insight into transportation infrastructure investment and consumer demand for new vehicles.
Methodology
The data is collected and reported quarterly by the U.S. Census Bureau based on tax revenue reports from the New Mexico state government.
Historical Context
Policymakers and transportation analysts use this data to assess infrastructure funding levels and plan for future investments.
Key Facts
- New Mexico collected $74.2 million in motor vehicle license taxes in Q4 2022.
- Motor vehicle license taxes account for 2.4% of New Mexico's total state tax revenue.
- Quarterly motor vehicle license tax collections have increased by 8.3% year-over-year.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total tax revenue collected by the state government of New Mexico from the registration and licensing of motor vehicles.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into transportation infrastructure funding and consumer demand for new vehicles in New Mexico, which are important indicators of economic activity and state fiscal health.
Q: How is this data collected or calculated?
A: The data is collected and reported quarterly by the U.S. Census Bureau based on tax revenue reports from the New Mexico state government.
Q: How is this trend used in economic policy?
A: Policymakers and transportation analysts use this data to assess infrastructure funding levels and plan for future investments in New Mexico's road network and other transportation systems.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, so there may be a 2-3 month delay between the end of the quarter and the publication of the latest figures.
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Citation
U.S. Federal Reserve, State Tax Collections: T24 Motor Vehicles License for New Mexico (QTAXT24QTAXCAT3NMNO), retrieved from FRED.