New Mexico county revenues grew 9% last fiscal year, report finds

County government balances across New Mexico grew by 9% between July 2024 and June 2025, compared to the prior year, according to a new audit of nearly all counties’ revenues. The Legislative Finance Committee reported that Lea, Eddy and Bernalillo counties ended the year with the highest fund balances, while De Baca, Harding and Guadalupe had smaller balances.

“We point out Lea, Eddy and Bernalillo ended the year with the highest fund balances, while De Baca, Harding and Guadalupe had smaller,” said Rachel Mercer-Garcia, deputy director of the Legislative Finance Committee Program Evaluation.

Both Lea and Eddy counties surpassed Bernalillo County in revenue this year. Six New Mexico counties still have yet to report their balances to the state. Lea County is sitting on more than $800 million, while Bernalillo County has more than $650 million. De Baca County has the least, with a little more than $6 million.

Most counties fund services and infrastructure through state and federal money, service fees, and taxes on activities and property. Gross receipts and property taxes are usually the biggest revenue drivers.

Lincoln County saw the largest revenue growth in the most recent year, tied to a large increase in disaster relief funds after the wildfire near Ruidoso.

Mercer-Garcia said the committee had been watching county finances closely. “As we pointed out, we were seeing a trend where revenue was outpacing expenditures in recent years for many counties, so those fund balances were increasing,” she said.

The Legislative Finance Committee compiles the figures into an interactive report for legislators to assess the viability of county entities. Capital outlay money is also included in the revenues and expenditures for each county, so lawmakers can see whether counties are spending the money awarded to them.