Colorado vs New York
Property‑Tax Comparison: Colorado vs. New York
Short introduction
Both Colorado and New York 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 less than one‑third of New York’s. The difference in rates translates into substantially lower annual taxes for comparable home values, while median household incomes and home values also vary between the two states.
Side‑by‑side metrics
| Metric | Colorado | New York |
|---|---|---|
| Effective property‑tax rate | 0.49 % | 1.60 % |
| Median home value | $502,200 | $403,000 |
| Median annual property tax | $2,448 | $6,450 |
| Property tax on a $250,000 home | $1,219 | $4,001 |
| Property tax on a $500,000 home | $2,438 | $8,003 |
| Median household income | $92,470 | $84,578 |
Sources: “According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates).”
Which state “wins” on property tax?
Winner (lower tax rate): Colorado
- Tax‑rate difference: 1.11 percentage points, which is a 69.54 % lower effective rate than New York’s.
- Annual tax difference on a $250,000 home: $2,782 less in Colorado.
- Annual tax difference on a $500,000 home: $5,565 less in Colorado.
The lower effective rate in Colorado results from a combination of state‑level caps, local assessment practices, and the higher median home value, which spreads the tax burden over a larger property base. New York’s higher rate reflects higher local levy levels and a different assessment methodology.
Who benefits most from this comparison?
| Audience | Relevance of lower property tax |
|---|---|
| Current or prospective homeowners | A lower effective rate reduces the ongoing cost of home ownership, especially for properties valued at or above the median price. |
| Retirees on fixed incomes | Reduced annual taxes can help preserve disposable income, making Colorado potentially more affordable for retirees. |
| Real‑estate investors | Lower tax liabilities improve net operating income on rental properties and can affect cash‑flow calculations. |
| Policy analysts / researchers | The data illustrate how state‑level tax structures influence overall tax burden relative to income and home values. |
The comparison is most directly useful for individuals and families evaluating the long‑term cost of owning a home in either state. It is less informative for those whose primary tax concerns lie with income or sales taxes, which differ markedly between Colorado and New York.
Further reading
- Detailed breakdown of Colorado’s property‑tax system: Colorado property tax
- Detailed breakdown of New York’s property‑tax system: New York property tax
Based on the most recent ACS estimates, the figures above reflect statewide averages and may not capture local variations within each state.
Explore More Comparisons
Discover how property taxes compare across all states in our comprehensive comparison guide.
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.