Colorado vs Mississippi Taxes: Income, Property & Sales

Does Colorado or Mississippi have lower taxes? We answer that in a variety of ways below:

Colorado vs Mississippi Income Tax Comparison

	Colorado	Mississippi
Income Tax Rates & Thresholds	4.40%	4.00%: $5,000-$10,000 5.00%: $10,001+
Median Income	$89,930	$48,610
Income Tax Paid On Median Household Income	$16,055	$5,789
Income After Tax Based on Median Household Income	$73,875	$42,821

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Colorado vs Mississippi Property Tax Comparison

	Colorado	Mississippi
Average Property Tax Rate	0.40%	0.55%
Average House Price By State	$555,300	$171,998
Average Property Tax Owed Per Year	$2,221	$946
Income After Income Taxes & Property Taxes Based On Median State Household Income	$71,654	$41,875

Colorado vs Mississippi Sales Tax Comparison

	Colorado	Mississippi
Average State Sales Tax	2.90%	7.00%
Average Local Sales Tax Across the State	4.87%	0.07%
Average Combined Sales Tax Rate	7.77%	7.07%
Maximum Amount of Sales Tax Paid Based on Median Household Income	$5,166	$2,765
Maximum Disposable Income Based on Median Household Income	$66,488	$39,110

After Tax Comparison Earning $40,000 Per Year Filing As Single

	Colorado	Mississippi
Income Tax Owed	$4,271	$4,325
After Tax Income	$35,729	$35,675
Income After Income & Property Tax	$33,508	$34,729
Maximum Disposable Income After Income, Property & Sales Taxes	$31,092	$32,436

After Tax Comparison Earning $60,000 Per Year Filing As Single

	Colorado	Mississippi
Income Tax Owed	$8,109	$8,253
After Tax Income	$51,891	$51,747
Income After Income & Property Tax	$49,670	$50,801
Maximum Disposable Income After Income, Property & Sales Taxes	$46,089	$47,447

After Tax Comparison Earning $80,000 Per Year Filing As Single

	Colorado	Mississippi
Income Tax Owed	$13,419	$13,653
After Tax Income	$66,581	$66,347
Income After Income & Property Tax	$64,360	$65,401
Maximum Disposable Income After Income, Property & Sales Taxes	$59,720	$61,082

After Tax Comparison Earning $100,000 Per Year Filing As Single

	Colorado	Mississippi
Income Tax Owed	$18,729	$19,053
After Tax Income	$81,271	$80,947
Income After Income & Property Tax	$79,050	$80,001
Maximum Disposable Income After Income, Property & Sales Taxes	$73,350	$74,718

After Tax Comparison Earning $100,000 Per Year Filing As Married Filing Jointly

	Colorado	Mississippi
Income Tax Owed	$11,852	$12,351
After Tax Income	$88,148	$87,649
Income After Income & Property Tax	$85,927	$86,703
Maximum Disposable Income After Income, Property & Sales Taxes	$79,732	$80,978

After Tax Comparison Earning $150,000 Per Year Filing As Married Filing Jointly

	Colorado	Mississippi
Income Tax Owed	$24,182	$24,906
After Tax Income	$125,818	$125,094
Income After Income & Property Tax	$123,597	$124,148
Maximum Disposable Income After Income, Property & Sales Taxes	$114,686	$115,950

After Tax Comparison Earning $200,000 Per Year Filing As Married Filing Jointly

	Colorado	Mississippi
Income Tax Owed	$37,457	$38,406
After Tax Income	$162,543	$161,594
Income After Income & Property Tax	$160,322	$160,648
Maximum Disposable Income After Income, Property & Sales Taxes	$148,763	$150,040

After Tax Comparison Earning $250,000 Per Year Filing As Married Filing Jointly

	Colorado	Mississippi
Income Tax Owed	$51,651	$52,825
After Tax Income	$198,349	$197,175
Income After Income & Property Tax	$196,128	$196,229
Maximum Disposable Income After Income, Property & Sales Taxes	$181,987	$183,272

FAQ

Does Colorado or Mississippi have lower income taxes?

Colorado’s income tax falls into the following range: 4.40%

Whereas Mississippi’s income tax is the following

• 4.00%: $5,000-$10,000
• 5.00%: $10,001+

Does Colorado or Mississippi have lower property taxes?

Colorado has an average property tax rate of 0.40%

In comparison, Mississippi has an average property tax rate of 0.55%

Does Colorado or Mississippi have lower sales taxes?

Colorado has a state sales tax rate of 2.90% and an average local rate of 4.87% for a combined total rate of 7.77%.

In contrast, Mississippi has a state sales tax rate of 7.00% and an average local rate of 0.07% for a combined total rate of 7.07%.

Do you get to keep more money in Colorado or Mississippi?

Based on median household income after income, property and sales taxes Colorado gives you a maximum amount of disposable income of $66,488

In comparison, Mississippi gives you $39,110.

More Comparisons:

Colorado vs Kansas
Colorado vs New Mexico
Colorado vs Nebraska
Colorado vs Idaho
Colorado vs West Virginia

Sources:

https://en.wikipedia.org/wiki/State_income_tax#Rates_by_jurisdiction

https://www.bankrate.com/real-estate/property-tax-by-state/#by-state

https://fred.stlouisfed.org/release/tables?eid=259515&rid=249

https://www.fool.com/the-ascent/research/average-house-price-state/

https://taxfoundation.org/data/all/state/2022-sales-taxes/

https://www.forbes.com/advisor/income-tax-calculator/