Colorado vs Maine
Property‑Tax Comparison: Colorado vs. Maine
Intro
Both Colorado and Maine levy property taxes that fund local services such as schools, roads, and public safety. According to the U.S. Census Bureau’s 2023 American Community Survey (5‑year estimates), Colorado’s effective property‑tax rate is substantially lower than Maine’s, while median home values and household incomes also differ between the two states. The following side‑by‑side table presents the key metrics used in the comparison.
Side‑by‑Side Metrics
| Metric (2023 ACS 5‑year) | Colorado | Maine |
|---|---|---|
| Effective property‑tax rate | 0.49 % | 1.10 % |
| Median home value | $502,200 | $266,400 |
| Median annual property tax | $2,448 | $2,926 |
| Property tax on a $250,000 home | $1,219 | $2,746 |
| Property tax on a $500,000 home | $2,438 | $5,492 |
| Median household income | $92,470 | $71,773 |
Sources: “According to the U.S. Census Bureau’s 2023 American Community Survey (5‑year estimates).”
Which State “Wins” on Property Tax?
- Lower effective tax rate: Colorado (0.49 %) vs. Maine (1.10 %). The difference is 0.61 percentage points, representing a 55.6 % lower rate in Colorado.
- Tax amount on comparable home values:
- On a $250,000 home, Colorado’s tax ($1,219) is $1,527 less than Maine’s ($2,746).
- On a $500,000 home, Colorado’s tax ($2,438) is $3,054 less than Maine’s ($5,492).
Because the effective tax rate is the primary driver of the amount owed, Colorado is the “winner” in this comparison.
Who Might Benefit Most from This Comparison?
| Audience | Relevance of Colorado’s lower rate | Relevance of Maine’s higher rate |
|---|---|---|
| Current homeowners | Lower ongoing property‑tax bills can reduce total housing costs, especially for owners of higher‑valued homes. | Higher taxes may be offset by lower median home prices, which can make entry‑level purchases more affordable. |
| Prospective homebuyers | May find the lower tax burden attractive when budgeting for total monthly housing expenses. | May benefit from the lower median home price, but should factor in the higher tax rate into overall affordability calculations. |
| Retirees on fixed incomes | Lower property taxes can help preserve disposable income, especially when combined with Colorado’s higher median household income. | Higher property taxes could strain fixed‑income budgets unless offset by lower home values or specific state exemptions for seniors. |
| Real‑estate investors | Lower tax rates improve cash‑flow projections for rental properties. | Higher tax rates increase operating expenses, which must be considered in investment analyses. |
Summary
Based on the most recent ACS estimates, Colorado’s effective property‑tax rate (0.49 %) is markedly lower than Maine’s (1.10 %). This results in lower annual taxes on both $250 k and $500 k homes and contributes to a lower overall property‑tax burden for homeowners, renters, and investors in Colorado. However, Maine’s median home value is less than half of Colorado’s, which may influence overall housing affordability for different buyer groups.
For additional state‑specific details, see the dedicated pages on Colorado property tax and Maine property tax.
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Data Source
All figures are drawn from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates). This comprehensive dataset provides reliable, standardized property tax information across all states.