Tax Comparison: Monroe, MI vs Gallup, NM
Understanding Your Tax Burden
This page compares the three main types of taxes between Monroe, MI and Gallup, NM: property tax, income tax, and sales tax. Each of these has a different impact on your overall cost of living.
Property Tax Comparison
Property taxes are collected by local governments and used to fund schools, infrastructure, and other local services. They're typically based on the assessed value of your property.
Our property tax estimates are based on:
- U.S. median home value: $419,200 (2023 data)
- Local effective tax rates for both cities
Monroe, MI
$4,843
Based on a $419,200 home
Rate: 1.1553%
Gallup, NM
$7,919
Based on a $419,200 home
Rate: 1.8890%
| Data | Monroe, MI | Gallup, NM |
|---|---|---|
| Effective Property Tax Rate | 1.1553% | 1.8890% |
| Estimated Property Tax | $4,843 | $7,919 |
| Home Value Used | $419,200 | $419,200 |
Comparison: Property taxes in Monroe, MI are $3,076 lower than in Gallup, NM for the same home value.
State Income Tax Comparison
Income tax rates and brackets vary by state, impacting residents' overall tax burden. The estimates below are based on standard deductions and typical filing scenarios.
Our income tax estimates consider:
- Single filer: $100,000 annual income
- Married couple: $200,000 combined income
- Median income: $80,600 annual income
MI
4.25%
Single: $4,250
Married: $7,650
NM
1.7%-5.9%
Single: $4,090
Married: $7,362
| Data | MI | NM |
|---|---|---|
| Tax Rate | 4.25% | 1.7%-5.9% |
| Single Filer ($100k) | $4,250 | $4,090 |
| Married Couple ($200k) | $7,650 | $7,362 |
| Median Income ($80.6k) | $3,424 | $3,950 |
Comparison: Income taxes in MI are $526 lower than in NM for the median household income.
Sales Tax Comparison
Sales tax rates vary by location and can have a significant impact on your day-to-day expenses. These include state, county, city, and special district taxes that together form the total sales tax rate.
Our sales tax estimates consider:
- Average household taxable spending: $15,500 per year
- Combined state and local rates for both cities
Monroe, MI
6.000%
Combined rate
Annual sales tax: $930
(Based on $15,500 spending)
Gallup, NM
9.438%
Combined rate
Annual sales tax: $1462
(Based on $15,500 spending)
| Data | Monroe, MI | Gallup, NM |
|---|---|---|
| State Sales Tax | 6.00% | 4.88% |
| Combined Sales Tax | 6.000% | 9.438% |
| Annual Tax Amount | $930 | $1,462 |
Comparison: Shopping in Monroe, MI costs $532 less in annual sales tax than in Gallup, NM for the average household.
Tax Comparison Insights
Tax Insights: Monroe vs Gallup
- Property Tax: Monroe has a 0.7337 percentage points lower effective property tax rate than Gallup.
- Income Tax: Living in MI could save you approximately $526 in state income taxes for a median household income.
- Sales Tax: The combined sales tax rate in Monroe is 3.44 percentage points lower than in Gallup.
Overall Tax Burden Comparison
Monroe, MI
$9,197
Combined annual tax burden
Property
$4,843
Income
$3,424
Sales
$930
Gallup, NM
$13,330
Combined annual tax burden
Property
$7,919
Income
$3,950
Sales
$1,462
Overall Comparison: Monroe, MI has an estimated $4,133 lower total tax burden than Gallup, NM based on our standard scenarios.
Important Tax Disclaimer
The tax information provided above is based on publicly available data and standard assumptions. Actual tax situations will vary based on:
- Individual financial circumstances
- Applicable deductions and credits
- Recent changes in tax laws
- Personal spending habits
- Local variations within cities and counties
This comparison is intended for general informational purposes only and should not be considered tax advice. For specific guidance regarding your tax situation, please consult with a qualified tax professional.