Colorado (CO) property tax rate: 0.49% | Median home: $545,000 | Median annual tax: $2,671
Colorado is a booming Rocky Mountain state with strong job growth. The average effective property tax rate in Colorado is 0.49%, which is below the national average of 1.1%.
On the median Colorado home valued at $545,000, annual property taxes come to approximately $2,671 or $223/month. This is a significant part of your total housing cost and should be factored into any home purchase budget.
Pro tip: Colorado offers a Senior Property Tax Exemption worth up to 50% off assessed value.
Combined with Colorado's state income tax rate of 4.4%, homeowners should consider the total tax picture. Property taxes in Colorado are manageable and in line with regional averages.
See all Colorado financial calculators:
Colorado has an average effective property tax rate of 0.49%. On the median home value of $545,000, that equals approximately $2,671 per year or $223 per month.
Property taxes in Colorado are calculated by multiplying your home assessed value by the local tax rate. The assessed value may differ from market value depending on your county assessment ratio. Exemptions like homestead exemptions can reduce your taxable value.
Colorado offers a Senior Property Tax Exemption worth up to 50% off assessed value.
Colorado property taxes are well below the national average of 1.1%. This is a genuine financial advantage for homeowners in Colorado.
Property tax due dates vary by county in Colorado. Most counties offer semi-annual payments. Check with your county tax assessor office for specific due dates. Late payments typically incur penalties of 1-2% per month.