High-End Excise Tax Threshold Adjustment Effective May 1, 2026

Effective May 1, 2026, the High-End Excise Tax threshold will increase to $1,029,000.00 following a 2.9 percent adjustment based on the Consumer Price Index for calendar year 2025.

This ordinance establishes a dedicated and enduring source of funding for the City's affordable housing fund. The excise tax of 3 percent applies only to the portion of a property's sale price that exceeds $1,029,000.00, with certain transactions exempt as defined in the ordinance.

The threshold will be reviewed annually each May 1 and adjusted based on changes to the Consumer Price Index. If there is no increase in the index during the prior year, the threshold will remain unchanged.

Click here to learn more about the High-End Excise Tax and how it supports affordable housing in Santa Fe.