Colorado vs Ohio
Property‑Tax Comparison: Colorado vs. Ohio
Brief Overview
Both Colorado and Ohio 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 Ohio’s, while median home values and household incomes differ markedly between the two states.
Side‑by‑Side Metrics
| Metric (2023 ACS) | Colorado | Ohio |
|---|---|---|
| Effective property‑tax rate | 0.49 % | 1.36 % |
| Median home value | $502,200 | $199,200 |
| Median annual property tax | $2,448 | $2,712 |
| Property tax on a $250k home | $1,219 | $3,404 |
| Property tax on a $500k home | $2,438 | $6,807 |
| Median household income | $92,470 | $69,680 |
Sources: “According to the U.S. Census Bureau’s 2023 American Community Survey (5‑year estimates).”
Which State “Wins” on Property‑Tax Burden?
- Winner (lower tax rate): Colorado
- Tax‑rate difference: 0.87 percentage points, which is a 64.19 % lower effective rate than Ohio’s.
- Annual tax difference on a $250,000 home: $2,185 less in Colorado ($1,219 vs. $3,404).
- Annual tax difference on a $500,000 home: $4,369 less in Colorado ($2,438 vs. $6,807).
Why Colorado wins: The effective property‑tax rate of 0.49 % in Colorado is less than half of Ohio’s 1.36 %. Because the rate is applied to the assessed value of a property, the lower rate translates into lower annual tax payments across comparable home price points.
Who Might Benefit Most from This Comparison?
| Audience | Relevance of Colorado Data | Relevance of Ohio Data |
|---|---|---|
| Current homeowners | Lower ongoing tax expense; useful when estimating future costs after a purchase or refinancing. | Higher tax expense; important for budgeting and assessing affordability. |
| Prospective homebuyers | May find Colorado attractive if minimizing property‑tax burden is a priority, especially for higher‑value homes. | May still be competitive if lower median home prices offset higher tax rates. |
| Retirees | Lower taxes can reduce fixed‑income strain; however, overall cost of living and climate factors also matter. | Higher taxes may require a larger tax‑budget, though lower home prices could mitigate total housing costs. |
| Real‑estate investors | Lower tax rates can improve cash‑flow projections for rental properties. | Higher tax rates increase operating expenses; investors must factor this into ROI calculations. |
The data are factual and state‑level; individual municipalities may have additional assessments or exemptions that affect the final tax bill.
Further Reading
- Detailed information about Colorado’s property‑tax structure: Colorado property tax
- Detailed information about Ohio’s property‑tax structure: Ohio property tax
All figures are based on the most recent ACS estimates (2023 5‑year) from the U.S. Census Bureau.
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.