on the ballot: excise tax on home sales above $1 million

Santa Fe New Mexico voters will weigh in on whether a 3%excise tax will be placed upon the sale of homes over $1 million to fund affordable housing in the city. The new tax is projected to raise about $4.5 million a year for the Santa Fe Affordable Housing Trust Fund. 66% of Santa Fe voters support the tax measure.

Santa Fe Reporter | Poll: SF Voters Support Housing Tax

Institute for Taxation and Economic Policy | 2023’s State and Local Tax Ballot Measures: Voters to Weigh in on Property Taxes, Wealth Taxes, and More