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Old 02-06-2011, 07:21 PM
 
Location: Foot of the Rockies
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In Denver, at least when we lived there, trash pickup was part of the city services.
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Old 02-08-2011, 10:32 AM
 
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The thing about taxes is that it really depends on what your situation is.

States like Texas have no income tax but extremely high property taxes (partially offset by low property values) -- so if you live in a modest place but have lots of income then Texas is a great fit (at least, from a tax perspective). If you want to build your retirement dream home but have modest income it's a terrible fit (well, not as bad as the worst of them, but you could do better).

Colorado is very middle of the road when it comes to taxes -- it doesn't lack any one particular tax, but all the taxes it does have are fairly modest and doesn't have any nasty surprises. I doubt that too many people move to Colorado for tax reasons though, unless they're coming from high tax places like the northeast or California -- even so, there are definitely other states that are much more attractive from a tax perspective.
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Old 02-17-2011, 09:22 AM
 
Location: Lakeland, Florida
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Quote:
Originally Posted by Mike from back east View Post
Property taxes vary by location, but I use a general rule of thumb of 0.666% of market value, thus a house with market value of $600k would have a property tax of @$4k/year. That's a rule of thumb only, for estimating purposes. In some high property tax states like NY, NJ, FL, TX and others, the property tax on a $600k home would be $8k to $12k.

If retired and over age 55, COLO exempts the first $20k of each retirees COLO taxable income. Thusly, 4.63% of $20k = $926 benefit per retiree per year.

For some reason I find this confusing so please excuse me. $20,000 of ones income is not taxed but it comes out to only $926 a year on that amount. So basically ones pension including Federal Pensions are taxed in Colorado.
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Old 02-17-2011, 01:00 PM
 
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Quote:
Originally Posted by Jimrob1 View Post
For some reason I find this confusing so please excuse me. $20,000 of ones income is not taxed but it comes out to only $926 a year on that amount. So basically ones pension including Federal Pensions are taxed in Colorado.
For those who are retired and at least 55 years of age, $20k of any pension is exempt from COLO state income tax. Pension amounts over $20k are taxed at the usual rate for each such pensioner.
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Old 02-17-2011, 05:40 PM
 
Location: Lakeland, Florida
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Originally Posted by Mike from back east View Post
For those who are retired and at least 55 years of age, $20k of any pension is exempt from COLO state income tax. Pension amounts over $20k are taxed at the usual rate for each such pensioner.

Thanks.
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Old 02-17-2011, 10:20 PM
 
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For residential property, Colorado has one of the lowest effective property tax rates per dollar of market value of any state in the Union. Colorado and Wyoming usually rank somewhere between 45th and 50th lowest, depending on one's particular location in the state. The catch is that the services funded by those taxes are also lacking compared to other states. That can be good or bad, depending on one's point of view, but Colorado does not rank well on education spending, for one, and, while just throwing money at education does not necessarily make for good education, Colorado spending on education is now getting poor enough that it is starting to adversely affect educational quality in the state.

Colorado ranks middling in its income tax, as others have noted. Colorado's combined sales tax (state and local sales taxes) are fairly high. If one is doing business in Colorado, the state has one of the most byzantine and complex sales tax systems in the country for businesspeople to contend with. Colorado is considered the "poster child" among all the states of how NOT to have a business-friendly sales tax system.

Finally, it is no secret that Colorado as a whole is in very serious fiscal trouble--and those problems are going get more severe, more intractable, and more painful as time goes on. The inflexibility built into Colorado's overall tax system by various Constitutional Amendments has made it certain that Colorado's fiscal problems are going to be long and deep. If, as I have often-predicted, Colorado's economic situation continues to deteriorate, those fiscal problems are going to foment a California-style crisis in government viability, maintenance of some semblance of a decent business climate, and the ability of government to maintain even a modest level of basic governmental services to the Colorado citizenry. Though that wreck is not wholly visible to the general public just yet, it is readily visible to the people trying to keep the systems of basic governmental services in this state viable--and they are plenty worried.
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Old 02-18-2011, 03:33 AM
 
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Quote:
Originally Posted by Mike from back east View Post
For those who are retired and at least 55 years of age, $20k of any pension is exempt from COLO state income tax. Pension amounts over $20k are taxed at the usual rate for each such pensioner.
Isn't it 24k after a certain age?
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Old 02-22-2011, 11:33 AM
 
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Quote:
Originally Posted by jazzlover View Post
The inflexibility built into Colorado's overall tax system by various Constitutional Amendments has made it certain that Colorado's fiscal problems are going to be long and deep.
Definitely true. Colorado has the trio of competing mandates of Amendment 23, Gallagher, and TABOR. I think the leaders in both parties knows that this Gordian knot is going to have to be cut free if the state is going become fiscally solvent. So, the GOP would love to ax 23, and the Democrats hate TABOR. The problem is that the voters love all of them.

Something's got to give, but the state will be on much firmer footing than most of it can be solved sooner rather than later. The only way for this to happen is for a bi-partisan coalition to form similar to the one which convinced the voters to pass Referendum C.
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Old 02-22-2011, 09:27 PM
 
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It seems to me that increasing sales tax on everything but food and medicine is the fairest way to provide necessary government funding. Tax comsumption, not income.
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Old 02-22-2011, 09:52 PM
Itz
 
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federal income tax is pretty straightforward across the board.. you can look at irs.gov to get more information - a base line of income vs tax liability.
State income tax - one poster stated what it was...
Certain districts have their own OPT sales tax... certain zip codes. It costs me approx $300 per year in the area I work.

Sales tax in the county I live in is:
State of Colorado = 4.10%
City Sales tax = 4.00%
County Sales Tax = .75%.... so when I buy something "local" my sales tax is 8.85% on it..

My property tax is 1% (literally - after looking at the MILS) of the county assessors value of my home... If I own a $250,000 home.. my property tax is $2500 per year..

The tax to register my vehicle is $80... oh... but dont include the FEE that they put in the system that GOES UP every year to FUND a seperate enterpirse to oversee road work... (Read the bill--- yes, it does NOT fund the road work itself.. but the overseeing of it.) this is another $40 which is added to another fee which totals $76.17 - then an emission fee of $25.00..

Taxes are on EVERYTHING you buy or subscribe to... as well as fees are tacked on...


Tax tax tax...
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