Tax Comparison: Rio rancho, NM vs Thornton, CO
Understanding Your Tax Burden
This page compares the three main types of taxes between Rio rancho, NM and Thornton, CO: property tax, income tax, and sales tax. Each of these has a different impact on your overall cost of living.
Property Tax Comparison
Property taxes are collected by local governments and used to fund schools, infrastructure, and other local services. They're typically based on the assessed value of your property.
Our property tax estimates are based on:
- U.S. median home value: $419,200 (2023 data)
- Local effective tax rates for both cities
Rio rancho, NM
$3,972
Based on a $419,200 home
Rate: 0.9475%
Thornton, CO
$2,533
Based on a $419,200 home
Rate: 0.6043%
| Data | Rio rancho, NM | Thornton, CO |
|---|---|---|
| Effective Property Tax Rate | 0.9475% | 0.6043% |
| Estimated Property Tax | $3,972 | $2,533 |
| Home Value Used | $419,200 | $419,200 |
Comparison: Property taxes in Thornton, CO are $1,439 lower than in Rio rancho, NM for the same home value.
State Income Tax Comparison
Income tax rates and brackets vary by state, impacting residents' overall tax burden. The estimates below are based on standard deductions and typical filing scenarios.
Our income tax estimates consider:
- Single filer: $100,000 annual income
- Married couple: $200,000 combined income
- Median income: $80,600 annual income
NM
1.7%-5.9%
Single: $4,090
Married: $7,362
CO
4.4%
Single: $4,400
Married: $7,920
| Data | NM | CO |
|---|---|---|
| Tax Rate | 1.7%-5.9% | 4.4% |
| Single Filer ($100k) | $4,090 | $4,400 |
| Married Couple ($200k) | $7,362 | $7,920 |
| Median Income ($80.6k) | $3,950 | $3,547 |
Comparison: Income taxes in CO are $403 lower than in NM for the median household income.
Sales Tax Comparison
Sales tax rates vary by location and can have a significant impact on your day-to-day expenses. These include state, county, city, and special district taxes that together form the total sales tax rate.
Our sales tax estimates consider:
- Average household taxable spending: $15,500 per year
- Combined state and local rates for both cities
Rio rancho, NM
9.438%
Combined rate
Annual sales tax: $1462
(Based on $15,500 spending)
Thornton, CO
11.200%
Combined rate
Annual sales tax: $1736
(Based on $15,500 spending)
| Data | Rio rancho, NM | Thornton, CO |
|---|---|---|
| State Sales Tax | 4.88% | 2.90% |
| Combined Sales Tax | 9.438% | 11.200% |
| Annual Tax Amount | $1,462 | $1,736 |
Comparison: Shopping in Rio rancho, NM costs $274 less in annual sales tax than in Thornton, CO for the average household.
Tax Comparison Insights
Tax Insights: Rio rancho vs Thornton
- Property Tax: Thornton has a 0.3432 percentage points lower effective property tax rate than Rio rancho.
- Income Tax: Living in CO could save you approximately $403 in state income taxes for a median household income.
- Sales Tax: The combined sales tax rate in Rio rancho is 1.76 percentage points lower than in Thornton.
Overall Tax Burden Comparison
Rio rancho, NM
$9,383
Combined annual tax burden
Property
$3,972
Income
$3,950
Sales
$1,462
Thornton, CO
$7,816
Combined annual tax burden
Property
$2,533
Income
$3,547
Sales
$1,736
Overall Comparison: Thornton, CO has an estimated $1,567 lower total tax burden than Rio rancho, NM based on our standard scenarios.
Important Tax Disclaimer
The tax information provided above is based on publicly available data and standard assumptions. Actual tax situations will vary based on:
- Individual financial circumstances
- Applicable deductions and credits
- Recent changes in tax laws
- Personal spending habits
- Local variations within cities and counties
This comparison is intended for general informational purposes only and should not be considered tax advice. For specific guidance regarding your tax situation, please consult with a qualified tax professional.