Retiring to Colorado Springs — The Honest Review

Colorado Springs is one of the lowest property-tax metros in the country and, right now, the only place outside the Denver metro building genuine resort-style 55+ product. It also sits over a mile above sea level, has a much smaller bench of communities than a bigger metro, and its low tax rate comes with fine print. Here’s the honest version of both halves.

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The MarketColorado Springs, By The Numbers

~6,035 ft

Average elevation — a real adjustment factor, not scenery trivia

0.43%–0.47%

El Paso County effective property tax rate

Deed-restricted 55+ communities across the metro

$450K–$933K+

Typical price span across the priced communities

300+ days

Of sunshine per year

~1 hour

South of Denver, roughly — without Denver-metro pricing

Before the Altitude AdjustmentWhat You're Actually Getting

The lowest property-tax bill you’ll find in a major metro. El Paso County’s effective rate runs roughly 0.43%–0.47%, less than half the 1.02% national median. On a $600,000 home that’s about $2,580–$2,820 a year before the Colorado Senior Homestead Exemption — 50% off the first $200K of value for owners 65+ who’ve held the property 10 years — brings it down further.
A genuine bench of options, not just one project. Eight distinct 55+ communities span from new-construction resort product like The Retreat at Banning Lewis Ranch (236 homes, $450K–$900K+, a 10,000 sq ft clubhouse, beach-entry pool, pickleball and bocce) down to older, lower-cost inventory like Valley Hi’s 1970s duplex-style homes beside its own golf course.
Real amenity depth if you want it. Village of Cortona sits inside the Flying Horse master-plan with club-membership access included; Elan is a 36-home luxury enclave averaging roughly $933K with a full-time activities director.
A meaningful break for veterans and military retirees. Peterson Space Force Base, Schriever Space Force Base, and Fort Carson anchor a large military-retiree population. VA 100%-disability owners pay zero property tax, and Colorado allows a pension subtraction of up to $24,000 for owners 65+ (up to $20,000 at 55–64).
Dry, sunny weather without extreme heat. 300+ days of sunshine a year, lower humidity than most markets in this series, and summers that rarely break 90°F.

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The AdjustmentWhat 6,035 Feet and an 8-Community Bench Cost You

The elevation is not cosmetic. At roughly 6,035 feet, most healthy adults adapt within a few weeks — but this market’s own research flags that buyers with cardiac or pulmonary conditions should talk to a physician before committing. That’s a real medical variable most other markets in this series simply don’t have.
The headline tax rate has an asterisk. 0.43%–0.47% is the effective baseline, but metro-district overlays — common in newer master-planned communities — can push the actual bill higher. Confirm the specific district assessment with the El Paso County Assessor before you assume the low-end number.
Affordability and amenities live in different eras of construction. The lowest entry points — Valley Hi’s 1970s duplexes, Heritage Park’s resale-only condos — are also the oldest inventory. The newest resort-style product starts around $450K and climbs toward $900K+.
Colorado still taxes military retirement pay. The subtraction and the VA disability exemption are real, but this isn’t a state that exempts military retirement outright — you’re doing subtraction math, not skipping the line item.
It’s a small board to choose from. Eight communities total is a real, genuine market — but it’s a much shorter list than a bigger metro offers. If none of the eight fit your budget or floor plan, there isn’t a ninth quietly waiting nearby.

Good Candidates for 6,035 Feet

Buyers who want a genuinely low, well-documented property tax bill and are willing to verify the district specifics. Military and veteran retirees who value being near Peterson, Schriever, and Fort Carson and who can use the VA disability exemption or pension subtraction. Buyers who prefer dry, sunny weather over humidity, are healthy enough to acclimate to altitude, and want mountain scenery without Denver-metro prices.

Better Off Closer to Sea Level

Buyers with cardiac or pulmonary conditions who haven’t cleared elevation with their doctor. Buyers who want the deepest possible bench of communities and price points to comparison-shop — a larger metro market, including Denver itself, will simply offer more inventory. Buyers who want a state that fully exempts military retirement pay rather than one that offers subtractions.

Before you fall for the mountain views: Colorado Springs is a legitimate low-tax, sunny, military-friendly alternative to Denver-metro pricing — but the altitude and the smaller community bench are real filters, not fine print, and the advertised tax rate is a starting estimate, not a promise.

See all 8 Colorado Springs 55+ communities and the full tax math →

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