It will cost you more money to register your vehicle as fees go up on July 1st. New fees will range from $27 to $62 for a one-year registration. The additional revenue is estimated to generate $70 million in the coming fiscal year by increasing the tax rate for commercial truckers in NM, raising vehicle registration fees by 25% and imposing a new $35 annual fee on electric vehicles registered in the state. The increases do not apply to recreational vehicles, motorcycles, trucks and buses.
