Budget wisdom

Colorado
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Courtesy of The Inverness Hotel

I recently learned an interesting cost-cutting fact from the folks who put together weddings at The Inverness Hotel in Englewood, CO.

If you're still deciding in which city to host your wedding, venues in small Colorado towns may be your best bet when it comes to saving money. How? Large cities have independent state and city taxes that—when added to standard service fees—could cost couples up to an additional $5,000. For example, The Inverness Hotel is in Englewood (located in an unincorporated part of Arapahoe County), so it doesn't get charged a city tax on top of its 4.35% state and local tax rate. Denver, on the other hand, has a state and city tax rate of 14.85%.—Lauren Matthews, associate editor, Brides Local magazines

Wedding Wisdom: If you and your groom are from different states, and you're still deciding on which state to host your wedding in, maybe the state tax rate could help sway your decision. Colorado has one of the lowest state tax rates (2.9%) in the nation, while California is 6.25%; Florida is 6%; and Hawaii is 4%. Obviously, the rates will increase as city and other local taxes are added, but it's always best to start at the bottom when it comes to cost-cutting.

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