Denver tax burden among lowest for wealthy families, highest for poor

DENVER (KDVR) — Denver has one of many decrease tax burdens among the many largest cities in every U.S. state, however households have to have larger incomes to get the decrease burden.

The Washington, D.C. Workplace of the Chief Monetary Officer launched a report this month detailing the relative state and native tax burdens. The report included the biggest cities in every U.S. state and analyzed earnings, gross sales, auto and property taxes for various family earnings brackets.

On the subject of tax burdens, Denver ranks:

• 14th-lowest for the tax burden on a family that earns $150,000 a yr
• Thirteenth-lowest for a $100,000-per-year family
• sixteenth for a $75,000-per-year family

Under these earnings ranges, its rating begins to flip.

Denver ranks Nineteenth-lowest for a family making $50,000. For a family making $25,000, it ranks Thirteenth within the nation.

A Denver family’s tax burden stays stage at $50,000 and past. For households incomes between $50,000 and $150,000, the tax burden is between 7.9% and eight.1%.

At $25,000 per yr, nevertheless, the family tax burden almost doubles to 13%. The nationwide common for a family of this earnings stage is 10.9%.