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Mansions for Sale in Colorado
Average Mansion and Luxury Home Prices in Colorado
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Snowmass |
Pitkin |
CO |
1,600,000 |
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Aspen |
Pitkin |
CO |
1,375,000 |
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Snowmass Village |
Pitkin |
CO |
1,174,693 |
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Edwards |
Eagle |
CO |
780,300 |
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General
Colorado is located in the Rocky Mountain region of the United States. Colorado officially entered statehood in 1876 and was nicknamed the ?Centennial State?. Colorado borders Wyoming, New Mexico, Arizona, Nebraska, Kansas, Oklahoma, and Utah.
The state is well known for its magnificent scenery of 14 thousand foot mountain peaks. The U.S. Census Bureau estimates that the state population was 4,939,456 in 2008, a 14% increase since 2000. Denver is the capital of Colorado and the state's most populous city. Residents of Colorado are properly known as "Coloradans", although the archaic term "Coloradoan" is still used.
Economy
It's estimated that the total state product in 2007 was $236 billion. Per capita personal income in 2007 was $40,963, ranking Colorado tenth in the nation.
The federal government is a major economic force in the state with many important federal facilities including NORAD, United States Air Force Academy, and Peterson Air Force Base in Colorado Springs; NOAA and the National Institute of Standards and Technology in Boulder; U.S. Geological Survey and other government agencies at the Denver Federal Center in Lakewood; the Denver Mint, Buckley Air Force Base, and 10th Circuit Court of Appeals in Denver; and a federal Supermax Prison and other federal prisons near Ca?on City.
Colorado has 24 million acres of National Forest land and National Parks or 37% of the total area of the state. The state's economy is diversified and is notable for its concentration of scientific research and high-technology industries. Other industries include food processing, machinery, transportation equipment, chemical products, minerals such as gold and molybdenum, and tourism. Colorado also produces the largest amount of beer of any state.
Taxes
Colorado has a flat 4.63% income tax, regardless of income level. Unlike most states, which calculate taxes based on federal adjusted gross income, Colorado taxes are based on taxable income - income after federal exemptions and federal itemized (or standard) deductions. Colorado's state sales tax is 2.9% on retail sales. When state revenues exceed state constitutional limits, full-year Colorado residents can claim a sales tax refund on their individual state income tax return. Many counties and cities charge their own rates in addition to the base state rate. There are also certain county and special district taxes that may apply.
Real estate and personal business property are taxable in Colorado. The state's senior property tax exemption was temporarily suspended by the Colorado Legislature in 2003. The tax break is scheduled to return for assessment year 2006, payable in 2007.
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