The New Mexico Taxation & Revenue Department is seeking approval from state lawmakers for a $142 million budget for fiscal year 2027. The proposal maintains overall spending levels while focusing on technical improvements to enhance customer service and public safety. Cabinet Secretary Stephanie Schardin Clarke will present the budget request to the Legislative Finance Committee on December 8.
The executive budget recommendation includes a $94 million request from the General Fund, marking a 5.5% increase from fiscal year 2026. However, it also proposes $48 million from federal and other state revenue sources, which is a 6.4% decrease from the previous fiscal year, resulting in an overall flat budget request.
"Taxation and Revenue is a complex department that delivers many critical public services," said Secretary Schardin Clarke. "This budget request continues to ensure the department is equipped to deliver the highest standard of public service and to secure sensitive data."
Key priorities outlined in the budget include $5 million for implementing changes to tax and motor vehicle codes due to federal actions, $4 million for transitioning technical services used by the Motor Vehicle Division to prevent fraud and enhance safety, and $2.8 million for replacing outdated imaging and data capture software.
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