Retire in Denver

Affordability

Find out how much it costs to live in Denver.

Cost of Living

Kiplinger Rating:

Tax Friendly

State Income Tax:

4.6%

Social Security Tax?

Mixed

County + State Sales Tax

7.7%

Property Tax Rate *

0.5%

Property Tax Ranking (County Property Tax rank out of 2,773, higher rank=lower rate) *

2325

* 2008-2010

Cost of Living Index (100=average):

107.7

Housing + transportation costs as % of income:

46%

Tax Details

State Sales Tax Breaks for Seniors:

None

Pensions Taxed?

Mixed

Tax burden: % income going to state and local taxes:

8.9%

Inheritance and estate taxes (per Kiplinger):

None

Taxing of other retirement income (per Kiplinger):

Mixed

Property Tax Break for Seniors (per Kiplinger):

A homestead exemption is available for qualifying seniors and the surviving spouse of a senior who previously qualified. Seniors must be at least age 65. It exempts 50% of the first $200000 of actual value of a primary residence. The state pays the tax on the exempted value. The person must have owned and lived in the home for at least ten years. This exemption is also available to qualifying disabled veterans.\n\nFull-year Colorado residents age 65 or older or disabled or a surviving spouse age 58 or older may qualify for the Property Tax/Rent/Heat Rebate and/or the Property Tax Deferral. Qualified applicants can receive a rebate of up to $600 of the property tax and $192 of their heating expenses paid during the year either directly or as part of their rent payments.\n\nSeniors age 60 and older or those with a disability may apply for the property tax work-off program which lets them work for the city or county government to pay off a portion of their property taxes.

 

For more detailed tax information from Kiplinger, visit www.kiplinger.com/tool/retirement/T055-S001-state-by-state-guide-to-taxes-on-retirees/

Real Estate

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Work Potential

  • Area
  • National Average

5 Largest Companies

  • U.S. Government
  • State of Colorado
  • University of Colorado Systems
  • Denver Public Schools (DPS)
  • City and County of Denver

GDP Growth Last 3 Years

16.6%

Income Growth Last 3 Years

20.6%

Employment Growth Last 3 Years

10.7%

Top Industries Hiring

  • Professional scientific and technical services
  • Accommodation and food services
  • Health care and social assistance
  • Construction
  • Administrative and support and waste management and remediation services

Breakdown Fulltime vs Part Time over 65 (%)

  • Part Time over 65
  • Full Time Over 65

Occupation Breakdown (%)

  • Management, Business, Science & Arts (MBSA)
  • Natural Resources, Contruction & Maintenance (NRCM)
  • Production, Transportation, Materials & Moving (PTMM)
  • Sales & Office (S&O)
  • Service

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