Colorado vs Nevada
Colorado vs. Nevada Property Tax Comparison
Intro
Both Colorado and Nevada levy property taxes that are close to the national median. According to the U.S. Census Bureau’s 2023 American Community Survey (5‑year estimates), each state has an effective property‑tax rate of 0.49 %. The two states differ modestly in median home values, median household income, and the resulting annual tax amounts for typical home price points.
Side‑by‑side comparison of key metrics
| Metric | Colorado | Nevada |
|---|---|---|
| Effective property‑tax rate | 0.49 % | 0.49 % |
| Median home value | $502,200 | $406,100 |
| Median annual property tax | $2,448 | $1,970 |
| Tax on a $250,000 home | $1,219 | $1,213 |
| Tax on a $500,000 home | $2,438 | $2,425 |
| Median household income | $92,470 | $75,561 |
Sources: “According to the U.S. Census Bureau’s 2023 American Community Survey (5‑year estimates).”
Which state “wins” on property tax?
- Effective tax rate: Identical at 0.49 % for both states.
- Absolute tax amounts: Nevada’s calculated taxes are marginally lower—by $6 on a $250 k home and $13 on a $500 k home.
Because the effective tax rates are the same, the slight advantage for Nevada stems from the lower median home value used in the calculation, resulting in a lower median annual property‑tax bill ($1,970 vs. $2,448).
Conclusion: Based strictly on the lower annual tax amount for comparable home values, Nevada edges out Colorado, though the difference is minimal.
Who is this comparison most relevant for?
| Audience | Relevance |
|---|---|
| Current or prospective homeowners | Understanding the likely annual tax expense for typical home price points in each state. |
| Homebuyers comparing affordability | The median home‑value and median household‑income figures help gauge overall cost of living alongside tax obligations. |
| Retirees | Property‑tax burden is a key component of fixed‑income budgeting; Nevada’s slightly lower median tax may be a modest advantage. |
| Real‑estate investors | Knowing the effective tax rate (identical for both states) supports long‑term cash‑flow modeling. |
| Policy analysts | The data illustrate that despite identical rates, local valuation levels affect total tax collections. |
Further reading
- Detailed information on Colorado’s property‑tax structure: Colorado property tax
- Detailed information on Nevada’s property‑tax structure: Nevada property tax
Based on the most recent ACS estimates, the figures presented here are descriptive and do not constitute tax advice.
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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.