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Colorado vs New Mexico: taxes, cost of living, laws
Colorado
Moderate tax burden · COL index 110
Wins 8 categories
VS
New Mexico
Moderate tax burden · COL index 91
Wins 7 categories
New Mexico's top income tax rate is 5.9% vs Colorado's 4.4%. Cost of living in Colorado (index 110) runs 21% higher than New Mexico (index 91). The median home in Colorado costs $545K vs $330K in New Mexico.
Taxes
4.4%
Income Tax (top rate)
5.9%
0.48%/yr
Property Tax Rate
0.55%/yr
7.76%
Sales Tax (avg)
7.82%
No
Social Security Tax
Yes
Yes
Estate Tax
Yes
As income
Capital Gains Tax
As income
Housing & Cost of Living
110
COL Index (100=avg)
91
$545K
Median Home Price
$330K
$1,850/mo
Median Rent (2BR/mo)
$1,250/mo
$3K/yr
Home Insurance (avg/yr)
$2K/yr
Crime & Safety
453
Violent Crime / 100K
778
2,859
Property Crime / 100K
3,286
337
Sex Offenders / 100K
130
314
Homeless / 100K
217
Healthcare
#9 of 50
Healthcare Quality Rank
#49 of 50
78.8 yrs
Life Expectancy
74.1 yrs
7.4%
Uninsured Rate
9.2%
Yes
Medicaid Expansion
Yes
Education
#9 of 50
K-12 Quality Rank
#46 of 50
No
School Choice / Vouchers
No
Childcare
$1,600/mo
Avg Infant Care / mo
$950/mo
Utilities & Daily Costs
$130/mo
Avg Energy Bill / mo
$115/mo
$530/mo
Avg Groceries / mo
$460/mo
#30 of 50
Road Quality Rank
#29 of 50
Social Policy
A-
Gun Laws Grade
B-
D+11.0
2024 Presidential Margin
D+10.0
Category wins
8
Colorado
7
New Mexico
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