Colorado vs Virginia
Colorado vs. Virginia – Property‑Tax Comparison
Intro
Both Colorado and Virginia 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), the two states differ in effective tax rates, median home values, and the resulting annual tax bills. The data below provides a side‑by‑side view of the key metrics and quantifies the tax‑payment gap for typical home values.
Side‑by‑side comparison
| Metric (2023 ACS) | Colorado | Virginia |
|---|---|---|
| Effective property‑tax rate | 0.49 % | 0.74 % |
| Median home value | $502,200 | $360,700 |
| Median annual property tax | $2,448 | $2,686 |
| Property tax on a $250,000 home | $1,219 | $1,862 |
| Property tax on a $500,000 home | $2,438 | $3,724 |
| Median household income | $92,470 | $90,974 |
Sources: “According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates).”
Which state has the lower tax burden?
Winner: Colorado (lower effective property‑tax rate).
Why:
- The effective tax rate in Colorado is 0.49 %, compared with 0.74 % in Virginia.
- The absolute difference is 0.26 percentage points, representing a 34.54 % lower rate for Colorado (0.26 ÷ 0.74 ≈ 0.351).
- For a $250,000 home, the annual tax is $1,219 in Colorado versus $1,862 in Virginia—a $643 difference.
- For a $500,000 home, the annual tax is $2,438 in Colorado versus $3,724 in Virginia—a $1,286 difference.
These calculations are based on the effective rates applied to the specified home values. The lower rate translates directly into lower annual payments for homeowners of comparable property values.
Who benefits most from this comparison?
| Audience | Relevance of the data |
|---|---|
| Current or prospective homeowners | The tax‑rate differential shows how much less a homeowner would pay each year in Colorado for homes priced around the state medians. |
| Homebuyers considering relocation | Understanding both tax rates and median home values helps compare overall cost of ownership between the two states. |
| Retirees on fixed incomes | Lower property taxes can reduce the recurring expense burden; Colorado’s lower rate may be advantageous, especially if the retiree’s home value aligns with state medians. |
| Real‑estate investors | The effective tax rate influences cash‑flow projections; Colorado’s 0.49 % rate yields a smaller tax expense per dollar of assessed value. |
| Policy analysts | The contrast highlights how state‑level tax structures affect revenue generation relative to median household incomes. |
The comparison does not account for other fiscal factors (e.g., state income taxes, sales taxes, or local fee structures) that may also influence total tax burden.
Further reading
- Detailed information on Colorado’s property‑tax system: Colorado property tax
- Detailed information on Virginia’s property‑tax system: Virginia property tax
Based on the most recent ACS estimates, the figures above reflect the average conditions for 2023 and should be used as a baseline for further, location‑specific analysis.
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.