Taxes in Lakewood, Colorado
Complete tax guide for Lakewood, CO. State income tax up to 4.4%, 0.5% property tax, 7.5% sales tax. Calculate your total tax burden.
State Income Tax
4.4%
Colorado
Property Tax
0.5%
Effective rate
Sales Tax
7.5%
Combined rate
Tax Burden
Moderate
Lakewood, CO Tax Overview
Population
155,984
Median Income
$66,212
Cost of Living
107.3 (100 = avg)
State Income Tax
4.4%
Median Home Price
$460,000
Lakewood Tax Calculator
Pre-filled with Lakewood median: $66,212
Total Tax Burden in Lakewood
$14,159
Take-Home: $52,053 · Effective Rate: 21.38%
Federal Tax
$6,181
9.33% eff.
CO State
$2,913
4.40% eff.
FICA
$5,065
7.65% eff.
Take-Home
$52,053
78.62% kept
Tax Breakdown
| Item | Annual | Monthly |
|---|---|---|
| Gross Income | $66,212.00 | $5,517.67 |
| Federal Income Tax | -$6,180.64 | -$515.05 |
| Colorado State Tax | -$2,913.33 | -$242.78 |
| Social Security (6.2%) | -$4,105.14 | -$342.10 |
| Medicare (1.45%) | -$960.07 | -$80.01 |
| Take-Home Pay | $52,052.81 | $4,337.73 |
Property Tax in Lakewood
Median Home
$460,000
Annual Tax
$2,300
Monthly Tax
$192
Effective Rate
0.5%
Sales Tax in Lakewood
Combined Rate
7.5%
State Portion
~5.0%
Local Portion
~2.5%
The combined sales tax rate in Lakewood is 7.5%, which is above the national average of 7.12%. On a $100 purchase, you would pay $7.50 in sales tax.
Tax Burden Comparison
| Tax Type | Lakewood | Colorado Avg | National Avg |
|---|---|---|---|
| Income Tax | 4.4% | 4.4% | 4.6% |
| Property Tax | 0.5% | ~0.5% | 1.1% |
| Sales Tax | 7.5% | ~7.5% | 7.12% |
| Overall Burden | Moderate | — | Moderate |
Tax Saving Tips for Lakewood 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 Lakewood (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.
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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 Lakewood, CO?
Lakewood, 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 7.5%.
How much is property tax in Lakewood?
The effective property tax rate in Lakewood is 0.5%. On the median home price of $460,000, this equals approximately $2,300 per year or $192 per month. This is below the national average of 1.1%.
What is the sales tax rate in Lakewood?
The combined sales tax rate in Lakewood is 7.5%, which includes both state and local components. This is above the national average combined rate of approximately 7.12%.
How does Lakewood's tax burden compare to other cities?
Lakewood has a moderate overall tax burden. The effective total tax rate for a median-income household is approximately 27.7%. The combination of 4.4% state income tax, 0.5% property tax, and 7.5% sales tax determines the total burden. Cost of living index is 107.3 (100 = national average).
Are there any local taxes in Lakewood?
Lakewood 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).