Property Tax (Denver, Trinidad, Center: sales, real estate, house)

[Gidget]

What is the property tax rate in Colorado? Haven't been able to find the rate online. Thanks!

[bibi]

Go to;

http://www.metrodenver.org/documents/dataCenter/Taxes_PropertyTaxAssesmentRates05.xls (broken link)

[2bindenver]

depends on where you are looking. Property tax assesment is per county. Generally in Metro Denver it is less than 1% of the assessed value, which is 15-30% less than market value.

[Gidget]

Thank you for your responses to my querry about property taxes. We had read in one of the real estate magazines that it was 7.92% Yikes! But we figured that just either had to be wrong or that it was not based on the value of the property.

Thanks for your input.

[mrkool]

When we lived there (early to mid 90s), property taxes were reasonable, and based on my research they still are. I believe the one poster is correct in saying they are about 1% of assessed value. Not bad. I am in the upper midwest now, and my middle class town is 2.58%.

[choyak]

IMO the property taxes in Colorado are the lowest I have seen. Where I live in Cali they are twice as high and wher I am originally from in Wisconsin twice as high again. My sister's taxes are I think in the lower 1000's for a $250K house (Near Stetson Hills). My assesed value here is $270K and the taxes are $3000 (in OC). My Parent's house is assesed at about 110K and I think the taxes are over $2300 (Wisconsin)

I am hoping that the influx of military personnel will cause the real estate to skyrocket in the Springs like it did here, but that is probably mostly over.

[DORNEDGEM]

We WERE thinking of relocating to Littlton area in CO but I am reading that property taxes in CO ar 7.96% ... the house listings have monthly taxes at greater than $800/mo on a $249,000 home. YIKES

How can people afford to own a home there?

[jazzlover]

Originally Posted by DORNEDGEM

We WERE thinking of relocating to Littlton area in CO but I am reading that property taxes in CO ar 7.96% ... the house listings have monthly taxes at greater than $800/mo on a $249,000 home. YIKES

How can people afford to own a home there?

Wrong. 7.96% of the fair market value is taxable. That is multiplied by the mill levy to get taxes. Colorado effective residential property tax rates are among the lowest in the country. Unfortunately, that is made up by commercial and industrial property tax rates that are pretty high. The amounts quoted in your post are likely per year, not per month. So, Colorado effectively subsidizes residential property (even though residential property is the big consumer of government services) and sticks it to commercial and industrial property owners. Though certainly not the only cause, that is one reason that Colorado has lost a lot of its property-intensive industries over the last 30 years. By the way, that formula is buried in the state Constitution and is unlikely to be changed by the voters--which many business people find to be a very business-unfriendly situation.

[Mike from back east]

A somewhat sloppy rule of thumb is to multiple the market price by 0.667% which for a property with a market value of $300,000 would mean annual taxes of about $2,000.00 which is very low for most states.

There is a state income tax of 4.63%, which IMO is also quite low, and if you're retired, the first $20k of each retiree's pension is exempted from the state income tax.

The state sales tax is 2.9% to which cities and counties add their local sales taxes so you can get up to 7+% or thereabouts.

[debbie at bouontiful]

Originally Posted by Mike from back east

A somewhat sloppy rule of thumb is to multiple the market price by 0.667% which for a property with a market value of $300,000 would mean annual taxes of about $2,000.00 which is very low for most states.

There is a state income tax of 4.63%, which IMO is also quite low, and if you're retired, the first $20k of each retiree's pension is exempted from the state income tax.

The state sales tax is 2.9% to which cities and counties add their local sales taxes so you can get up to 7+% or thereabouts.

Quite interesting! I was looking at some of those 40 acre lots on the Santa Fe Trail near Trinidad and their property taxes seemed even lower. Here in OK I have a ranch so I pay this ranch rate which is low.

Question:: Dose Co have a food tax exemption? That would be a big plus.
In the area I am now I pay more than 9 percent on everything food included.