Colorado Senior Property Tax Exemption
In 2000, voters amended the Colorado Constitution with the adoption of Section 3.5 of Article X
. The amendment and subsequent legislation created a property tax exemption for two groups of people: qualifying seniors and the surviving spouses of seniors who previously qualified. The three basic requirements are:
- The qualifying senior must be at least 65 years old on January 1 of the year in which he/she qualifies.
- The qualifying senior must be the owner of record, and must have been the owner of record for at least 10 consecutive years prior to January 1.
- The qualifying senior must occupy the property as his/her primary residence, and must have done so for at least ten consecutive years prior to January 1.
For those who qualify, 50 percent of the first $200,000 of actual value of the property is exempted. The state will pay the exempted property tax. The exemption is effective Jan. 1, 2003, and the exemption affects property taxes billed in 2004. If you own multiple residences, only one can be designated as your primary residence.
The Application Process
Two application forms have been created for the exemption. The Colorado Senior Property Tax Exemption Short Form
is intended for qualifying seniors that meet each of the requirements stated above. The Colorado Senior Property Tax Exemption Long Form must be used by individuals applying under the surviving spouse option and for applicants applying as the qualifying senior who fall within certain exceptions to the occupancy and ownership requirements. Please contact the Assessor's Office at 720.523.6038 for the long form application.
The application deadline for either form is July 15 of the year for which you are seeking exemption. The exemption must be applied for only once, and remains in effect for subsequent years as long as the property ownership and occupancy do not change.