DENVER (KDVR) — Denver has one of the lower tax burdens among the largest cities in each U.S. state, but households need to have higher incomes to get the lower burden.
The Washington, D.C. Office of the Chief Financial Officer released a report this month detailing the relative state and local tax burdens. The report included the largest cities in each U.S. state and analyzed income, sales, auto and property taxes for different household income brackets.
When it comes to tax burdens, Denver ranks:
- 14th-lowest for the tax burden on a household that earns $150,000 a year
- 13th-lowest for a $100,000-per-year household
- 16th for a $75,000-per-year household
Below those income ranges, its ranking starts to flip.
Denver ranks 19th-lowest for a household making $50,000. For a household making $25,000, it ranks 13th in the nation.
A Denver household’s tax burden stays level at $50,000 and beyond. For households earning between $50,000 and $150,000, the tax burden is between 7.9% and 8.1%.
At $25,000 per year, however, the household tax burden nearly doubles to 13%. The national average for a household of this income level is 10.9%.