The Colorado Constitution establishes a property tax exemption for qualifying senior citizens, surviving spouses of senior citizens who previously qualified, and for disabled veterans.
Deadline
Applications must be filed no later than July 15 to have the exemption apply to your tax bill the following year.
The deadline for 2017 applicaions has passed. Application forms for 2018 will become available in January of 2018.
Eligibility
Qualifying seniors:
- Were born on or before January 1, 1952, and
- Lived in the home continuously starting before January 1, 2007, and
- Owned the home continuously starting before January 1, 2007.
Effect on Taxes
- The exemption goes into effect for tax year 2017.
- The discount will first appear on the tax bill sent in January 2018.
- The exemption remains in effect until a disqualifying event occurs, such as:
- properties moved into a trust, LLC or other legal entity, or
- surviving spouse, or
- home destroyed by natural disaster
Exemption Amount
For those who qualify, 50 percent of the first $200,000 in actual value of their primary residence is exempted, for a maximum exemption amount of $100,000 in actual value. The State of Colorado pays the property taxes on the exempted value.