Taxes in Centennial, Colorado
Complete tax guide for Centennial, CO. State income tax up to 4.4%, 0.5% property tax, 4.99% sales tax. Calculate your total tax burden.
State Income Tax
4.4%
Colorado
Property Tax
0.5%
Effective rate
Sales Tax
4.99%
Combined rate
Tax Burden
Low
Centennial, CO Tax Overview
Population
110,263
Median Income
$74,700
Cost of Living
106.3 (100 = avg)
State Income Tax
4.4%
Median Home Price
$507,000
Centennial Tax Calculator
Pre-filled with Centennial median: $74,700
Total Tax Burden in Centennial
$17,049
Take-Home: $57,651 · Effective Rate: 22.82%
Federal Tax
$8,048
10.77% eff.
CO State
$3,287
4.40% eff.
FICA
$5,715
7.65% eff.
Take-Home
$57,651
77.18% kept
Tax Breakdown
| Item | Annual | Monthly |
|---|---|---|
| Gross Income | $74,700.00 | $6,225.00 |
| Federal Income Tax | -$8,048.00 | -$670.67 |
| Colorado State Tax | -$3,286.80 | -$273.90 |
| Social Security (6.2%) | -$4,631.40 | -$385.95 |
| Medicare (1.45%) | -$1,083.15 | -$90.26 |
| Take-Home Pay | $57,650.65 | $4,804.22 |
Property Tax in Centennial
Median Home
$507,000
Annual Tax
$2,535
Monthly Tax
$211
Effective Rate
0.5%
Sales Tax in Centennial
Combined Rate
4.99%
State Portion
~2.5%
Local Portion
~2.5%
The combined sales tax rate in Centennial is 4.99%, which is below the national average of 7.12%. On a $100 purchase, you would pay $4.99 in sales tax.
Tax Burden Comparison
| Tax Type | Centennial | Colorado Avg | National Avg |
|---|---|---|---|
| Income Tax | 4.4% | 4.4% | 4.6% |
| Property Tax | 0.5% | ~0.5% | 1.1% |
| Sales Tax | 4.99% | ~4.99% | 7.12% |
| Overall Burden | Low | — | Moderate |
Tax Saving Tips for Centennial Residents
- Colorado's income tax rate of 4.4% is competitive. You may still benefit from maximizing 401(k) contributions ($23,500 limit) to reduce your taxable income at both state and federal levels.
- Property tax in Centennial (0.5%) is below the national average of 1.1%. This makes homeownership more affordable here relative to property tax burden.
- Use a Health Savings Account (HSA) if eligible. Contributions are tax-deductible ($4,300 individual, $8,550 family), growth is tax-free, and withdrawals for medical expenses are tax-free.
Other Cities in Colorado
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HighCalculate Your Full Colorado Tax Burden
See detailed state tax brackets, FICA breakdown, and compare to neighboring states.
Frequently Asked Questions
What are the tax rates in Centennial, CO?
Centennial, Colorado has a state income tax rate up to 4.4%. The property tax rate is 0.5% and the combined sales tax rate is 4.99%.
How much is property tax in Centennial?
The effective property tax rate in Centennial is 0.5%. On the median home price of $507,000, this equals approximately $2,535 per year or $211 per month. This is below the national average of 1.1%.
What is the sales tax rate in Centennial?
The combined sales tax rate in Centennial is 4.99%, which includes both state and local components. This is below the national average combined rate of approximately 7.12%.
How does Centennial's tax burden compare to other cities?
Centennial has a low overall tax burden. The effective total tax rate for a median-income household is approximately 24.4%. The combination of 4.4% state income tax, 0.5% property tax, and 4.99% sales tax determines the total burden. Cost of living index is 106.3 (100 = national average).
Are there any local taxes in Centennial?
Centennial does not impose a separate local or city income tax. Residents pay the state income tax of 4.4%, federal income tax, and FICA (Social Security and Medicare).