Money is on everyone’s minds these days. We’ve been seeing a lot of tips on how brides can save money…but here’s one we just received that we hadn’t thought of: saving on taxes. The Inverness Hotel in Colorado is promoting the low tax rate in their area, something that can be a real money saver when you add up all the costs associated with a wedding.
Tip: When shopping for a wedding location, shop by city rather than venue–since not all state and city taxes are the same.
What to look for: venues in areas with low city taxes or even cities that are in unincorporated counties
Example: The Inverness Hotel in Englewood, Colorado is located in the unincorporated part of Arapahoe County and therefore does not charge a city tax. Also, Englewood’s 4.35% state and local tax is low compared to other popular cities like Denver, which has a state and city tax rate of 14.85%. Looking at average wedding costs of $19,000-$40,000, brides could save $1,995-$4,200 by hosting their wedding in Englewood instead of Denver and still have a beautiful Rocky Mountain wedding. Colorado as a state also has one of the lowest state tax rates coming in at 2.9% versus other popular wedding destinations like California (6.25%), Florida (6%), Maine (5%) or Hawaii (4% – Oahu adds an additional 1/2% for mass transit system).