Tennessee vs Colorado Taxes: Income, Property & Sales

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

Tennessee vs Colorado Income Tax Comparison

	Tennessee	Colorado
Income Tax Rates & Thresholds	None	4.40%
Median Income	$65,380	$89,930
Income Tax Paid On Median Household Income	$7,151	$16,055
Income After Tax Based on Median Household Income	$58,229	$73,875

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Tennessee vs Colorado Property Tax Comparison

	Tennessee	Colorado
Average Property Tax Rate	0.42%	0.40%
Average House Price By State	$310,782	$555,300
Average Property Tax Owed Per Year	$1,305	$2,221
Income After Income Taxes & Property Taxes Based On Median State Household Income	$56,924	$71,654

Tennessee vs Colorado Sales Tax Comparison

	Tennessee	Colorado
Average State Sales Tax	7.00%	2.90%
Average Local Sales Tax Across the State	2.55%	4.87%
Average Combined Sales Tax Rate	9.55%	7.77%
Maximum Amount of Sales Tax Paid Based on Median Household Income	$4,962	$5,166
Maximum Disposable Income Based on Median Household Income	$51,961	$66,488

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

	Tennessee	Colorado
Income Tax Owed	$3,040	$4,271
After Tax Income	$36,960	$35,729
Income After Income & Property Tax	$35,655	$33,508
Maximum Disposable Income After Income, Property & Sales Taxes	$32,547	$31,092

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

	Tennessee	Colorado
Income Tax Owed	$5,968	$8,109
After Tax Income	$54,032	$51,891
Income After Income & Property Tax	$52,727	$49,670
Maximum Disposable Income After Income, Property & Sales Taxes	$48,130	$46,089

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

	Tennessee	Colorado
Income Tax Owed	$10,368	$13,419
After Tax Income	$69,632	$66,581
Income After Income & Property Tax	$68,327	$64,360
Maximum Disposable Income After Income, Property & Sales Taxes	$62,370	$59,720

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

	Tennessee	Colorado
Income Tax Owed	$14,768	$18,729
After Tax Income	$85,232	$81,271
Income After Income & Property Tax	$83,927	$79,050
Maximum Disposable Income After Income, Property & Sales Taxes	$76,610	$73,350

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

	Tennessee	Colorado
Income Tax Owed	$8,481	$11,852
After Tax Income	$91,519	$88,148
Income After Income & Property Tax	$90,214	$85,927
Maximum Disposable Income After Income, Property & Sales Taxes	$82,349	$79,732

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

	Tennessee	Colorado
Income Tax Owed	$18,536	$24,182
After Tax Income	$131,464	$125,818
Income After Income & Property Tax	$130,159	$123,597
Maximum Disposable Income After Income, Property & Sales Taxes	$118,812	$114,686

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

	Tennessee	Colorado
Income Tax Owed	$29,536	$37,457
After Tax Income	$170,464	$162,543
Income After Income & Property Tax	$169,159	$160,322
Maximum Disposable Income After Income, Property & Sales Taxes	$154,412	$148,763

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

	Tennessee	Colorado
Income Tax Owed	$41,455	$51,651
After Tax Income	$208,545	$198,349
Income After Income & Property Tax	$207,240	$196,128
Maximum Disposable Income After Income, Property & Sales Taxes	$189,174	$181,987

FAQ

Does Tennessee or Colorado have lower income taxes?

Tennessee’s income tax falls into the following range: None

Whereas Colorado’s income tax is the following 4.40%

Does Tennessee or Colorado have lower property taxes?

Tennessee has an average property tax rate of 0.42%

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

Does Tennessee or Colorado have lower sales taxes?

Tennessee has a state sales tax rate of 7.00% and an average local rate of 2.55% for a combined total rate of 9.55%.

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 Tennessee or Colorado?

Based on median household income after income, property and sales taxes Tennessee gives you a maximum amount of disposable income of $51,961

In comparison, Colorado gives you $66,488.

More Comparisons:

Tennessee vs Minnesota
Tennessee vs South Carolina
Tennessee vs Alabama
Tennessee vs Louisiana
Tennessee 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/