DENVER (CBS4) – A new study shows Coloradans are taxed less for their properties here than almost anywhere else in the country.
WalletHub released a new study on Tuesday that analyzed every state’s auto and real estate property taxes.
Colorado wound up tied at the No. 6 position with South Carolina for having an effective real estate tax rate of only 0.57 percent.
The study looked at the annual taxes people pay for a home that costs $184,700 and in Colorado that amount was $1,058.
The low numbers weren’t the case for two states near Colorado. Neighbor Nebraska had the seventh highest property taxes and nearby Texas had the sixth. For a $184,700 house, owners in those state pay approximately $3,400 annually in property taxes.
The state with the highest property taxes was New Jersey and the lowest was Hawaii.
Property taxes in Colorado have stayed low throughout the 2010s. The study shows property taxes in neighbor Kansas, however, have risen considerably during the decade.
While property taxes are low here, it’s no secret that the prices of houses in Colorado aren’t cheap. The study ranks Colorado at No. 10 for highest median home value ($264,600).