Taxes in Parker, Colorado
Complete tax guide for Parker, CO. State income tax up to 4.4%, 0.48% property tax, 3.94% sales tax. Calculate your total tax burden.
State Income Tax
4.4%
Colorado
Property Tax
0.48%
Effective rate
Sales Tax
3.94%
Combined rate
Tax Burden
Low
Parker, CO Tax Overview
Population
57,706
Median Income
$77,400
Cost of Living
102.1 (100 = avg)
State Income Tax
4.4%
Median Home Price
$574,000
Parker Tax Calculator
Pre-filled with Parker median: $77,400
Total Tax Burden in Parker
$17,969
Take-Home: $59,431 · Effective Rate: 23.22%
Federal Tax
$8,642
11.17% eff.
CO State
$3,406
4.40% eff.
FICA
$5,921
7.65% eff.
Take-Home
$59,431
76.78% kept
Tax Breakdown
| Item | Annual | Monthly |
|---|---|---|
| Gross Income | $77,400.00 | $6,450.00 |
| Federal Income Tax | -$8,642.00 | -$720.17 |
| Colorado State Tax | -$3,405.60 | -$283.80 |
| Social Security (6.2%) | -$4,798.80 | -$399.90 |
| Medicare (1.45%) | -$1,122.30 | -$93.52 |
| Take-Home Pay | $59,431.30 | $4,952.61 |
Property Tax in Parker
Median Home
$574,000
Annual Tax
$2,755
Monthly Tax
$230
Effective Rate
0.48%
Sales Tax in Parker
Combined Rate
3.94%
State Portion
~1.4%
Local Portion
~2.5%
The combined sales tax rate in Parker is 3.94%, which is below the national average of 7.12%. On a $100 purchase, you would pay $3.94 in sales tax.
Tax Burden Comparison
| Tax Type | Parker | Colorado Avg | National Avg |
|---|---|---|---|
| Income Tax | 4.4% | 4.4% | 4.6% |
| Property Tax | 0.48% | ~0.48% | 1.1% |
| Sales Tax | 3.94% | ~3.94% | 7.12% |
| Overall Burden | Low | — | Moderate |
Tax Saving Tips for Parker 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 Parker (0.48%) 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 Parker, CO?
Parker, Colorado has a state income tax rate up to 4.4%. The property tax rate is 0.48% and the combined sales tax rate is 3.94%.
How much is property tax in Parker?
The effective property tax rate in Parker is 0.48%. On the median home price of $574,000, this equals approximately $2,755 per year or $230 per month. This is below the national average of 1.1%.
What is the sales tax rate in Parker?
The combined sales tax rate in Parker is 3.94%, which includes both state and local components. This is below the national average combined rate of approximately 7.12%.
How does Parker's tax burden compare to other cities?
Parker has a low overall tax burden. The effective total tax rate for a median-income household is approximately 24.3%. The combination of 4.4% state income tax, 0.48% property tax, and 3.94% sales tax determines the total burden. Cost of living index is 102.1 (100 = national average).
Are there any local taxes in Parker?
Parker 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).