This report is an analysis of the State of New Mexico’s county-level revenues and expenditures over the last seven years of available data, 2015-2021. The analysis estimates the amount of revenue contributed to the State of New Mexico by each county and the State of New Mexico’s expenditures in each county on a per capita basis. This study is an update to a previously released study covering 2015-2019 which can be found at Arrowhead Center’s Economic and Policy Studies webpage.