Mortgage Interest Deduction in Colorado
State income tax rate
4.4%
Itemized deductions allowed
✅ Yes
State-Level Mortgage Interest Deduction
Colorado has a flat 4.4% income tax and conforms to federal itemized deductions, allowing mortgage interest deduction on state returns.
Combined Federal + Colorado Savings
If you paid $18,000 in mortgage interest last year and itemize on both returns, your combined tax savings would be approximately:
- Federal (22% bracket): $3,960
- Colorado (4.4% rate): $792
- Total estimated savings: $4,752
These are estimates based on a 22% federal bracket. Your actual savings depend on your specific tax situation.