Taxes and Spending in Colorado

Property Taxes

Colorado: Tax rates in Colorado do not apply to market value to assessed value. Assessed value is equal to a percentage of the market value. That percentage, called the residential assessment rate, is recalculated regularly by the State. The 2026 residential property rate is 6.8% for local government and 7.05% for school districts. All other assessment rates are 26%, except for some oil and gas.

Baca County: The State of Colorado establishes the assessment rate for the entire state. The 2024 mill levy for Baca County was .032901.

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 rate is a flat 4.4%.

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 4.4% on the corporate net income.