Taxes and Spending in Colorado
Property Taxes
Colorado-Tax rates in Colorado do not apply to market value but to assessed value. Assessed value is equal to a fraction of the market value. That fraction, called the residential assessment rate is recalculated regularly by the state. For tax years 2015 and 2016, it is 8.24%
Baca County-The residential property rate for Baca County has an assessment rate of 7.2% and all other except oil and gas is 29%. The mill levy for 2016 was.076400.
Sales and Use Tax Rate
| State of Colorado: 2.9% | Total: 2.9% |
| Baca County: 0% | Total: 2.9% |
| Springfield: 4.9% | Total: 7.8% |
Income Tax – State of Colorado
Colorado’s individual state income tax rates range from 4.63%
Corporate Income Tax
Like the individual income tax, the corporate income tax is largely derived from the federal corporate income tax. There is a flat rate of, 4.63% on the corporate net income.