Maryland vs Colorado Taxes: Income, Property & Sales

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

Maryland vs Colorado Income Tax Comparison

	Maryland	Colorado
Income Tax Rates & Thresholds	2.00%: $0-$1,000 3.00%: $1,001-$2,000 4.00%: $2,001-$3,000 4.75%: $3,001-$100,000 5.00%: $100,001-$125,000 5.25%: $125,001-$150,000 5.50%: $150,001-$250,000 5.75%: $250,001+	4.40%
Median Income	$108,200	$89,930
Income Tax Paid On Median Household Income	$21,525	$16,055
Income After Tax Based on Median Household Income	$86,675	$73,875

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Maryland vs Colorado Property Tax Comparison

	Maryland	Colorado
Average Property Tax Rate	0.76%	0.40%
Average House Price By State	$416,643	$555,300
Average Property Tax Owed Per Year	$3,166	$2,221
Income After Income Taxes & Property Taxes Based On Median State Household Income	$83,509	$71,654

Maryland vs Colorado Sales Tax Comparison

	Maryland	Colorado
Average State Sales Tax	6.00%	2.90%
Average Local Sales Tax Across the State	0.00%	4.87%
Average Combined Sales Tax Rate	6.00%	7.77%
Maximum Amount of Sales Tax Paid Based on Median Household Income	$4,727	$5,166
Maximum Disposable Income Based on Median Household Income	$78,782	$66,488

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

	Maryland	Colorado
Income Tax Owed	$4,624	$4,271
After Tax Income	$35,376	$35,729
Income After Income & Property Tax	$32,210	$33,508
Maximum Disposable Income After Income, Property & Sales Taxes	$30,386	$31,092

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

	Maryland	Colorado
Income Tax Owed	$8,502	$8,109
After Tax Income	$51,498	$51,891
Income After Income & Property Tax	$48,332	$49,670
Maximum Disposable Income After Income, Property & Sales Taxes	$45,596	$46,089

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

	Maryland	Colorado
Income Tax Owed	$13,852	$13,419
After Tax Income	$66,148	$66,581
Income After Income & Property Tax	$62,982	$64,360
Maximum Disposable Income After Income, Property & Sales Taxes	$59,417	$59,720

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

	Maryland	Colorado
Income Tax Owed	$19,202	$18,729
After Tax Income	$80,798	$81,271
Income After Income & Property Tax	$77,632	$79,050
Maximum Disposable Income After Income, Property & Sales Taxes	$73,237	$73,350

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

	Maryland	Colorado
Income Tax Owed	$12,651	$11,852
After Tax Income	$87,349	$88,148
Income After Income & Property Tax	$84,183	$85,927
Maximum Disposable Income After Income, Property & Sales Taxes	$79,417	$79,732

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

	Maryland	Colorado
Income Tax Owed	$25,081	$24,182
After Tax Income	$124,919	$125,818
Income After Income & Property Tax	$121,753	$123,597
Maximum Disposable Income After Income, Property & Sales Taxes	$114,861	$114,686

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

	Maryland	Colorado
Income Tax Owed	$38,588	$37,457
After Tax Income	$161,412	$162,543
Income After Income & Property Tax	$158,246	$160,322
Maximum Disposable Income After Income, Property & Sales Taxes	$149,288	$148,763

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

	Maryland	Colorado
Income Tax Owed	$53,167	$51,651
After Tax Income	$196,833	$198,349
Income After Income & Property Tax	$193,667	$196,128
Maximum Disposable Income After Income, Property & Sales Taxes	$182,704	$181,987

FAQ

Does Maryland or Colorado have lower income taxes?

Maryland’s income tax falls into the following range:

• 2.00%: $0-$1,000
• 3.00%: $1,001-$2,000
• 4.00%: $2,001-$3,000
• 4.75%: $3,001-$100,000
• 5.00%: $100,001-$125,000
• 5.25%: $125,001-$150,000
• 5.50%: $150,001-$250,000
• 5.75%: $250,001+

Whereas Colorado’s income tax is the following 4.40%

Does Maryland or Colorado have lower property taxes?

Maryland has an average property tax rate of 0.76%

In comparison, Colorado has an average property tax rate of 0.40%

Does Maryland or Colorado have lower sales taxes?

Maryland has a state sales tax rate of 6.00% and an average local rate of 0.00% for a combined total rate of 6.00%.

In contrast, 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%.

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

Based on median household income after income, property and sales taxes Maryland gives you a maximum amount of disposable income of $78,782

In comparison, Colorado gives you $66,488.

More Comparisons:

Maryland vs Minnesota
Maryland vs South Carolina
Maryland vs Alabama
Maryland vs Louisiana
Maryland vs Kentucky

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/