Taxes & Insurance in Lovington
Lovington applies New Mexico's real 2026 5.9% top income tax alongside a property tax rate running above the state's own statewide median and statewide homeowners-insurance cost pressures.
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Learn moreNew Mexico's real 2026 income tax rate
New Mexico's individual income tax carries 6 brackets from 1.5% to a top 5.9% rate (above $210,000 single / $315,000 MFJ), applying in Lovington as statewide, alongside a Social Security exemption below $100,000 (single) / $150,000 (MFJ) federal AGI (base record).
Lovington's above-statewide-median property tax rate
Ownwell cites Lovington's median effective property tax rate at 0.97% (a separate figure cites 0.98%, the HIGHEST within Lea County against Jal's lowest at 0.74%) -- below the national median (~1.02%) but above New Mexico's own statewide median (~0.86%), a real, disclosed wrinkle (base record).
A notably low median annual tax bill despite the elevated rate
Lovington's median annual property tax bill still runs a relatively low approximately $490, well below the national median of $2,400, reflecting New Mexico's real 33.3% assessment ratio and 3% annual assessed-value cap for owner-occupied residences (base record).
A real, disclosed gap in Lovington-specific insurance data
No Lovington-specific homeowners-insurance premium figure was found this pass -- this record discloses New Mexico's statewide context instead: 23.3% of homeowners uninsured, a record ~6,200 non-renewals in 2025, and ~16% average statewide premium increases (base record).
Key takeaways
- New Mexico's top income tax rate is a real, current 5.9% (2026), applying in Lovington as statewide.
- Lovington's property tax rate (~0.97%-0.98%) runs above New Mexico's own statewide median, though below the national median.
- Lovington's median annual tax bill (~$490) still runs well below the national median despite the elevated rate.
- No Lovington-specific homeowners-insurance premium figure was found this pass -- a real, disclosed gap.
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