Regional Taxes & Initiatives
Colorado Is Ranked the 15th most Tax Friendly State
The Durango Herald published a very thorough article on taxes and taxing districts in the Sunday paper, February 13, 2010. Click here for a link to the article.
Corporate Income Tax
The Corporate Income Tax rate in Colorado is a flat 4.63%. This was reduced nearly nine years ago from 4.75%. Colorado now rank ninth lowest of all states that have Corporate Income Tax. For more information about Colorado taxes, click here.
State of Colorado 2.90%
La Plata County 2.00%
City of Durango 3.00%
Town of Bayfield 2.00%
Town of Ignacio 1.00%
In Colorado, property tax is imposed at the county level. Commerical and industrial property is assessed at 29% of market value. Residential property in La Plata County is assessed at 7.95% of market value.
La Plata County is home to one of the lowest property tax rates in the State! Click here to compare property taxes in La Plata County to other counties in Colorado.
Most cities in Colorado use impact fees to recoup the costs associated with new growth. These fees help keep property and sales taxes lower for residents and businesses. The City of Durango collects impact fees for streets, water, sewer, and parks. The City recently lowered its street impact fee substantially.
There are local, regional, and state incentives that can assist with a range of needs for your business, including workforce training, infrastructure, and financing. To learn more, please visit our economic incentives page.