Colorado vs Maryland
Property Tax Comparison: Colorado vs. Maryland
Introduction
According to the U.S. Census Bureau’s 2023 American Community Survey (5‑year estimates), Colorado and Maryland differ markedly in their effective property‑tax rates, median home values, and median household incomes. Colorado’s effective rate is 0.49 %, while Maryland’s is 1.00 %. These differences translate into lower annual property‑tax payments for comparable home values in Colorado.
Side‑by‑Side Metrics
| Metric | Colorado | Maryland |
|---|---|---|
| Effective property‑tax rate | 0.49 % | 1.00 % |
| Median home value | $502,200 | $397,700 |
| Median annual property tax | $2,448 | $3,989 |
| Property tax on a $250,000 home | $1,219 | $2,507 |
| Property tax on a $500,000 home | $2,438 | $5,015 |
| Median household income | $92,470 | $101,652 |
Sources: “According to the U.S. Census Bureau’s 2023 American Community Survey (5‑year estimates).”
Which State Has the Lower Tax Burden?
Based on the effective property‑tax rate, Colorado has the lower rate at 0.49 % compared with Maryland’s 1.00 %.
- Rate difference: 0.52 % points, which is a 51.4 % lower rate in Colorado.
- Annual tax difference for a $250k home: $2,507 − $1,219 = $1,288.
- Annual tax difference for a $500k home: $5,015 − $2,438 = $2,577.
Because the tax calculation is a simple percentage of assessed value, the absolute dollar difference scales with home price. The lower rate in Colorado results in consistently lower property‑tax bills across price ranges.
Who Might Benefit From This Comparison?
| Audience | Relevance of the Data |
|---|---|
| Current or prospective homeowners | The table shows how property‑tax obligations differ for typical home values in each state, helping buyers estimate ongoing costs. |
| Retirees | Since retirees often have fixed incomes, lower property taxes can affect affordability; Colorado’s lower rate may be advantageous, though other cost‑of‑living factors are not covered here. |
| Real‑estate investors | Understanding the tax rate is essential for cash‑flow projections; Colorado’s 0.49 % rate yields lower annual expenses per dollar of property value. |
| Policy analysts | The side‑by‑side metrics provide a concise snapshot for comparative studies of state tax structures. |
The comparison is strictly limited to property‑tax rates and related median values. It does not consider other taxes (e.g., income or sales tax), local variations within each state, or non‑tax cost‑of‑living elements.
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All figures are based on the most recent ACS estimates (2023 5‑year). Calculations are derived directly from the effective tax rates provided by the U.S. Census Bureau.
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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.